Jon Krebbs Facilitates Sale Of Holly Lake Resort In Holly Lake Ranch, Texas
1823 Fm 2869
Units
130
Asset Type
Hotel
Closing
May 16, 2024
About this deal
AI
The Holly Lake Resort in Holly Lake Ranch, Texas, was recently sold. The property, encompassing 130 units with an average size of 708 square feet, is located at 1823 Fm 2869. The resort features various amenities such as a restaurant, movie theatre, fitness center, swimming pools, and recreational activities, making it an attractive investment option for families and couples.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Market: Holly Lake Ranch
- Keys: 130
Jon Krebbs from The Multifamily Group, based in Dallas, played a crucial role in the sale of Holly Lake Resort. He represented the seller during the auction process, which led to a quick closing within 30 days. The property received multiple competitive offers from ten bidders, indicating strong interest in the investment opportunity.
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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