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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