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6707 Berkman Drive, Austin,...

Rastegar Property Company Acquires Residential Property On Berkman Dr. In North Central Austin
SOLDCo-Op

Rastegar Property Company Acquires Residential Property On Berkman Dr. In North Central Austin

6707 Berkman Drive, Austin, TX, USA

Building Size

21,678 SF

Asset Type

Co-Op

Closing

Jun 24, 2020

AI

The residential property located at 6707 Berkman Dr. in North Central Austin has been sold in a recent transaction. The sale took place on 06/25/2020. The property was purchased by Rastegar Property Company, led by Ari Rastegar, who has been an active buyer of multifamily properties in Austin. Despite the challenges posed by the volatile capital markets during the pandemic, Rastegar Property Company has continued to invest in centrally located properties in the area.

Summary of transaction details

  • Property Type: Residential
  • Transaction Amount: Not specified
  • Address: 6707 Berkman Dr.
  • Market: North Central Austin

Forest Bass from Walker & Dunlop represented Rastegar Property Company as their broker in this transaction.

Players

Ari Rastegar

Rastegar Property Company

Buyer

$46M

vol

4 deals

Buyer

Austin Co-Op Market Snapshot

Boundary boundary · Co-Op · Sale 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