Updated Jan 6, 2025
SWBC Real Estate Acquires 28.74 Acres Development Site In McKinney From
5626 Trinity Falls Parkway
Building Size
1,251,914 SF
Asset Type
Development Site
Closing
Nov 21, 2024
About this deal
AI
SWBC Real Estate acquired a development site consisting of 28.74 acres of entitled multifamily land located at 5626 Trinity Falls Parkway in McKinney, TX. The site is slated for a multi-phase luxury apartment project known as The Royalton, which, upon full buildout, will feature nearly 1,400 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 5626 Trinity Falls Parkway
- Market: McKinney, TX
- Asset Size: 28.74 acres
- Buyer: SWBC Real Estate
- Seller:
- Brokers: Dillon Cook, Chris Young & Tom Sterquell - Range Realty Advisors
Range Realty Advisors represented SWBC Real Estate in this transaction. The acquisition will enable the development of a significant housing project catering to luxury apartment needs in the McKinney area.
On the Map
Development Site
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McKinney Development Site Market Snapshot
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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