MULTI-FAMILY

The Slate

The Slate
| 414 Class A Units


Off-market purchase of a newly delivered core plus product at a discount to replacement costs.

Capitalized with one of the largest institutional asset managers in the world, who valued PinPoint’s guidance to deliver and execute on large off-market core-plus deals.

Located in the heart of Houston’s energy corridor and delivered during a period of low oil prices and excess apartment supply, PinPoint gained control of this project prior to several major energy companies announcing office relocations into the submarket.

Location
935 N. Wilcrest Drive
Houston, TX 77079
Size
7 acres (59 units/acre)
Strategy
Basis play on core-plus product
Debt
60-65% LTV floating I/O with major Life Co.
Description
4-story mid-rise
Year Built
2016
Units
414
Avg. Unit Size
909 sf
Effective Rent
$1,468/unit, $1.62/sf
Occupancy
90%