Updated Oct 28, 2024
Nationwide Insurance Provides $56M Acquisition Loan For 354-Unit Multifamily Property In McKinney, TX
1703 Rockhill Road, McKinney, Texas 75069, United States
$56,000,000
Units
354
Asset Type
MultiFamily
Closing
Oct 30, 2022
About this deal
AI
The multifamily property located at 1703 Rockhill Road in McKinney, TX has recently been involved in a loan transaction. The property consists of 354 units, making it a substantial asset in the market. The acquisition loan for this property was provided by nationwide-''>Nationwide Insurance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,000,000
- Units: 354
- Address: 1703 Rockhill Road, McKinney, TX
- Market: McKinney, TX
Arnel Management is the landlord of this property, indicating their ownership and management role in the deal. As for the loan, it was an acquisition loan, allowing the buyer to secure the property for a significant transaction amount.
Players
McKinney 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93