Allen Harrison Company Acquires 12 Acres In Lemon Creek Ranch For Multifamily Development
Building Size
—
Asset Type
Development Site
Closing
Oct 17, 2023
AI
Allen Harrison Company, represented by Paul Forbes, has purchased a 12-acre development site within the Lemon Creek Ranch development near San Antonio. The site is located at Interstate 10 West & Balcones Creek in Boerne. The development includes residential units, retail space, and an H-E-B grocery store that is set to open in early 2024, known to stimulate local development.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: Not specified
- ACRES: 12
- Address: Interstate 10 West & Balcones Creek, Boerne
- Market: Boerne
Allen Harrison Company, led by Paul Forbes, has acquired a 12-acre development site within the Lemon Creek Ranch development near San Antonio. The purchase is for a multifamily project that will be developed on the site. The development also includes residential units, retail space, and an H-E-B grocery store, which is expected to open in early 2024. The presence of the grocery store is known to have a positive impact on local development.
Players
Market 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