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109 Southfield Road

Reynolds Asset Management And Slabotsky Family Office Acquire Riverside Oaks Apartments In Shreveport For $9.5M
SOLDMultiFamily

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:

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

Max Custer

JLL

Broker

$790M

vol

36 deals

Broker

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