Preferred Equity Sought for Stabilized Multi-Unit Building in Houston, TX

This listing seeks preferred equity/equity investment of $2.2M for a large, fully stabilized, and recently refurbished multi-unit residential building located in a desirable area of Houston, Texas. The experienced sponsor is contributing $2.2M of equity towards a total capital stack of $17M. The combined debt and sponsor equity represent approximately 65% of the estimated one-year After Repair Value (ARV) of $22.5M. A significant benefit is a Houston Housing Authority property tax abatement/credit, expected to substantially increase the Net Operating Income (NOI) over its 75-year term, which is transferable upon sale. The closing is scheduled for mid-October. This is a direct offering from the sponsor.