The Preiss Company Acquires Student Housing In College Station For Susan Folckemer
1101 Luther Street West, College Station, Texas 77840, United States
Building Size
303,844 SF
Asset Type
—
Closing
Mar 22, 2022
About this deal
AI
The student housing property located at 1101 Luther Street West in College Station has been sold. The transaction took place on March 23, 2022. The property, owned by Susan Folckemer, consists of 828 beds, making it an attractive investment in the student housing market.
Summary of transation details
- Property Type: Student Housing
- Transaction Amount: Not provided
- Address: 1101 Luther Street West
- Market: College Station
- Number of Beds: 828
The buyer of the property is The Preiss Company (TPCO), represented by Susan Folckemer. As a reputable student housing company, TPCO recognizes the potential of the property and its strategic location in College Station. This acquisition further expands TPCO's portfolio in the student housing market.
Players
College Station CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
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