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Del Mar Apartments
Houston
,
TX
Projected IRR of 19.97%, 2.05 multiple to investor
Closed 6/2022
48 units built in 1978
Purchase price: $73,105,115
$9,270,000 proposed capital improvement program
3 year I/O, fixed rate bridge debt at years 1-2
Refinance after year 2 with Freddie Mac 5 year fixed debt
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