Buckingham Advisors Arranges $14MM JV Equity Placement For El Paso Multifamily
201 Isela Rubalcava Ave, El Paso, TX 79932, USA
Building Size
253,587 SF
Asset Type
MultiFamily
Closing
Oct 23, 2022
AI
A $14 million JV Equity Placement has been successfully provided by Buckingham Advisors for a 276-unit Multifamily development located at 6650 TX-16 Spur in the Northwest Submarket of El Paso, TX. The property spans 255,920 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Units: 276
- Square Footage: 255,920 SF
- Address: 6650 TX-16 Spur, El Paso, TX
- Market: Northwest Submarket - El Paso, TX
The JV partnership for this development involves a multi-family office, while Jordan Furman from Ascent Holdings acts as the landlord. The brokers involved in this transaction are Simon Goldstein and Jon Livi from Buckingham Advisors.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93