Reynolds Asset Management And Slabotsky Family Office Acquire Riverside Oaks Apartments In Shreveport For $9.5M
109 Southfield Road
$9,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 1, 2024
AI
The asset involved in this transaction is Riverside Oaks Apartments, a multifamily property located at 109 Southfield Road in Shreveport, LA. The sale was finalized for a total of $9,500,000, encompassing 185 units with a price per unit of $51,351. The property is set to undergo a $4 million renovation, which will include enhancements to the pool, dog park, and interiors, with construction set to begin immediately.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,500,000
- Units: 185
- Price Per Unit: $51,351
- Renovation Budget: $4,000,000
- Broker Representatives: John Hamilton - Marcus & Millichap, Max Custer, Michael Mataras & Thomas (Tom) Didio - JLL
- Buyer: Reynolds Asset Management & Slabotsky Family Office
The deal involved Reynolds Asset Management and Slabotsky Family Office as the buyers, with John Hamilton from Marcus & Millichap representing them alongside brokers Max Custer, Michael Mataras, and Thomas (Tom) Didio from JLL. This transaction showcases a significant collaboration among these key players in the multifamily real estate market.
Players
Shreveport MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93