The Opportunity
The Location
The Property
Contact
Doc Center
Privacy
Terms of Use
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Associate Director (832) 314-5078 jed.dalton@berkadia.com
TX CRE #787068
joey rippel
Managing Director (601) 919-5155 joey.rippel@berkadia.com
TX CRE #654288
chris young
Managing Director (972) 743-5742 chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director (214) 533-3322 jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director (713) 553-0151 chris.curry@berkadia.com
TX CRE #566750
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
The Location
tucker fama
Senior Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
ESTEE IBÁÑEZ
AVP, Financial Analysis (713) 469-4512 estee.ibanez@berkadia.com
TX CRE #687201
JOHNNY KING
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
CARL RASMUSSEN
Associate Director
Mortgage Banking (713) 469-4514 carl.rasmussen@berkadia.com
The Opportunity
VISIT DOC CENTER
Investment Summary
Investment Highlights
Community
The Property
apartment units
Community Amenities
Investment Sales and Mortgage Banking
VISIT DOC CENTER
CHRIS POLLARD
Managing Director
Mortgage Banking
(214) 360-3839 chris.pollard@berkadia.com
JASON RICE
Senior Managing Director
Mortgage Banking
(214) 360-3811
jason.rice@berkadia.com
9402 Synott Rd | Houston, TX 77083
unit Amenities
CUTT ABLESON
Senior Managing Director, Mortgage Banking (713) 459-4503 cutt.ableson@berkadia.com
Updated finishes in select units
8-foot ceilings
Vinyl plank flooring in select units
Woodburning fireplaces in select units
Almond, white, black or stainless appliances
Formica or granite countertops
Ceiling fans in bedrooms
Carpeted bedrooms
Washer/dryer connections
Washer/dryers included in select units
Private patios or balconies
Leasing office
Residence lounge with kitchen and coffee bar
Shimmering swimming pool
Covered poolside seating
Children’s play area with benches
Pergola with picnic tables
Charcoal grills
Pet waste stations
Central courtyard
Beautiful landscaping
Open surface parking
Perimeter fencing and controlled access
Synott Square
The Asset
Highlights
DOC CENTER
Terms of Use
Privacy
Contact
Location
CUTT ABLESON
Senior Managing Director, Mortgage Banking (713) 459-4503 cutt.ableson@berkadia.com
Investment Highlights
Market Loan Assumption* 1983 3.95 108 82,108 760 $1,047 $1.38 98% | 94%
Price Terms Year Built Total Acreage Total Units Total SF Avg Unit SF Avg Rent/Unit Avg Rent/SF Leased | Occupied
Investment Summary
The Opportunity
*Loan details are available in the Doc Center.
VISIT DOC CENTER
Synott Square is a well-maintained, garden-style multifamily community with strong operational performance and compelling value add opportunities. It is positioned in Alief, a well-known residential suburb, very popular with renters due to its accessibility to multiple major highways and proximity to regional employment districts. The surrounding land use is densely populated with schools, parks, and lifestyle retail with limited availability for new supply. This location offers long-term, entrenched and healthy demand drivers for new ownership, enabling value appreciation and the generation of increasing cash flows and returns to investors.
Attractive, Assumable Freddie Mac Loan with 3.35% Fixed Interest Rate
Assumable Loan: Freddie Mac loan with a 3.35% fixed interest rate and five years of term remaining.
Healthy Cash Flows: 95% average occupancy since 2021 with high collections and high retention.
Rent Momentum: Rents have increased 26% since 2021 and the 76 renewals in 2024 averaged 4.1%.
Interior Value-Add: 100% of units can be updated to a consistent, modern standard.
Multiple Avenues to Increase Income: Can implement a bulk cable/internet agreement, implement valet trash service, add private yards to select units, and add washers and dryers (100% connections) to remaining units without them.
Support in Market: 17 properties within a three-mile radius have implemented valet trash service.
Rent Gaps in Market: $146 rent gap with renovated comparables and $314 rent gap with newer built product.
Third-Party Support: 3.2% average rent growth projected annually from 2026 to 2028 by RealPage and 3.3% over same timeframe by CoStar.
Low New Supply Risk: No units in lease-up in the submarket and only one community under construction.
Accessibility: Centrally positioned between the Westpark Tollway, Beltway 8/Sam Houston Tollway, I-69, and Hwy 6, providing excellent connectivity to the region.
Expedient Commutes: 582K jobs within ten miles and under 30-minute commutes to Sugar Land, Westchase District, and Energy Corridor.
Abundant Lifestyle Amenities: Multiple grocers and Big Box retailers, parks, community centers, and schools within three miles.
Surrounded by Schools: 12 Alief ISD schools within three miles, including seven elementary schools, plus close to highly regarded Harmony School and KIPP Academy charter school campuses.
kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451