Castle Lanterra Properties Acquires 529-Unit Apartment In Austin For $129M
SOLD
$129,000,000
New York
See Similar DealsOther3,135 SF
Sold 07/15/2020
SOLD
Castle Lanterra Properties Acquires 529-Unit Apartment In Austin For $129M
Triangle Residences, Building A, 4600 W Guadalupe St, Austin, Tx 78751, Usa
See Similar DealsOther3,135 SF
Sold 07/15/2020
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$41,148
Total Square Footage:3,135 SF
Transaction Type:Sale
The mixed-use development located at 4600 W Guadalupe Street in Austin has been sold for a total price of $129,000,000. The property, consisting of 529 apartment units, was built between 2006 and 2008. The sale price translates to a per unit price of $244,000.
Summary of transation details
- Property Type: Apartment
- Transaction Amount: $129,000,000
- Units: 529
- Price Per Unit: $244,000
Castle Lanterra Properties, represented by Elie Rieder, was the buyer in this transaction.
The mixed-use development offers not only residential space but also retail and restaurant options, making it an attractive location for residents.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$458,309.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$611,525.81
Annual Debt Service$7,338,309.75
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