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BRT Realty buys Katy community for $40.3 millionBRT Realty buys Katy community for $40.3 millionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=121252016-02-15T06:00:00Z2016-02-15T18:00:00Z

​​​​​​KATY – Great Neck, NY-based BRT Realty Trust has acquired Retreat at Cinco Ranch in a 75/25 joint venture with Robbins Property Associates. 

Retreat at Cinco Ranch was constructed in 2008 at 3306 S. Fry Rd. It consists of one- to three-bedroom floor plans across 12 garden-style buildings.  

It was purchased for $40.3 million, or around $150,000 per unit, from JRK Property Holdings.

The acquisition includes $30.8 million of mortgage debt that matures in 2026 with a fixed interest rate of 4.44 percent. ​

CoStar Group
Houston-The Woodlands-Sugar Land
Multifamily
http://www.costar.com/News/Article/BRT-Realty-Trust-Pays-$548-Million-for-508-Units-in-Greater-Houston-and-Atlanta-Markets/179593Read more at {Source}

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