WATERFORD GROVE • HOUSTON, TEXAS
The Numbers
| Purchase Price: | $70,776,000 |
| Capital Improvements: | $3,574,000 |
| NOI: | $6,000,000 |
| Cap Rate: | 5.75% |
| Stabilized Value: | $160,720,000 |
| Equity: | $29,300,000 |
| Refinance Proceeds: | $8,000,000 |
| Cash Flow: | $1,500,000 |
170-unit Apartment Complex, acquired in April 2021
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