La Estancia

Houston, TX

Projected IRR of 19.39%, 2.07 multiple to investor
Closed 10/2021
307 units built in 1970
Purchase price: $34,673,293
$4,904,939 proposed capital improvement program
3 year I/O, variable rate bridge debt at years 1-2
Refinance after year 2 with Freddie Mac 5 year fixed debt