900 W. Fordall Road

Property Description

THE OFFERING Point North is a 109-unit complex of traditional two-story apartment buildings and bungalow-style flats situated in its own quiet, tree-filled subdivision. There is a great mix of 35 one-bedroom, 50 two-bedroom, and 24 three-bedroom units, averaging 816 square feet across all unit types. Any buyer has the opportunity to purchase the existing entity and maintain a 20% annual cap on the assessed value of the property to mitigate RE tax increases and maintain stronger cash flow. THE DRIVERS The Henderson, Texas local economy is sustained by large industrial trades including oil, gas, gravel, and timber. The West Fraser sawmill is undergoing a $255M upgrade to their plant, and Henderson is also served by a 13-mile railroad spur making it a hub for exporting raw materials across the country. The city is also investing in additional industrial options to gear its new 300-acre East Texas Regional Business Park anticipated to be up and running in the next 12 months. THE LOCATION Point North neighbors one of the city’s largest parks and lake in the city, Lake Forest Park, providing tenants access to a surplus of outdoor activities for the entire family to enjoy. The city of Henderson has several major highways passing through the business district including U.S. Route 259 and 79, along with Texas State Highways 42, 43, and 64. Henderson also boasts a charming downtown historic district with many buildings dating to before the American Civil War which is often bustling with residents visiting the restaurants, clothing boutiques, and antique stores. THE DEBT Point North is being offered free and clear of existing debt. Please contact Greysteel’s Debt and Structured Finance team to discuss the most efficient financing execution.