Updated Oct 29, 2024
Partin Development Group Secures $24.1M Loan For Azle Apartment Complex
1133 Boyd Rd, Azle, TX 76020, USA
$24,100,000
$1,086/SF
Building Size
22,176 SF
Asset Type
MultiFamily
Closing
Sep 30, 2020
About this deal
AI
The property involved in this transaction is an apartment located at 1133 Boyd Road in Azle. The apartment consists of 224 units and was the subject of a recent loan. The borrower in this transaction is Partin Development Group, and the lender is greystone''>Greystone, represented by Eric Rosenstock.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $24,100,000
- Loan Terms: 40-year term & a fixed interest rate
Partin Development Group secured a loan amount of $24,100,000 for the apartment property located at 1133 Boyd Road in Azle. The loan has a 40-year term and a fixed interest rate. Eric Rosenstock from Greystone served as the representative for the lender in this transaction.
Players
Azle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93