Updated Oct 28, 2024
Dominium Development Acquires 9.9 Acre Development Site In Arlington/Mansfield For Upscale Apartment Project
6900 Matlock Road, Arlington, Texas 76001, United States
Units
192
Asset Type
Development Site
Closing
May 10, 2022
About this deal
AI
Located at 6900 Matlock Road in Arlington/Mansfield, this development site spans approximately 9.9 acres. The property was recently involved in a sale transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 05/11/2022
- Market: Arlington/Mansfield
- Asset Type: Development Site
- Size: 9.9 acres
The buyer of this property is Dominium Development, a company known for its involvement in new and rehab multi-family development projects. Representing the local owner in the sale transaction was Wayne Burgdorf, the listing agent from SVN Trinity Advisors.
After the acquisition, Dominium Development plans to develop a 192-unit upscale apartment property on the site. With offices in Dallas and Minnesota, Dominium is active in the multi-family development sector.
Players
Arlington Development Site Market Snapshot
Boundary boundary · Development Site · 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