Updated Dec 4, 2024
Lightstone Capital Provides $11.8M Acquisition Loan For 121-Unit Multifamily In San Antonio
1847 Babcock Road, San Antonio, Texas 78229, United States
$11,800,000
Units
121
Asset Type
MultiFamily
Closing
Jan 25, 2022
About this deal
AI
The Brennan Pohle Group and Next Space Development have acquired a multifamily property located at 1847 Babcock Rd in San Antonio. The property consists of 121 units and was purchased on January 26, 2022. The acquisition loan, provided by Lightstone Capital, was worth $11,800,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,800,000
- Address: 1847 Babcock Rd
- Market: San Antonio
- Number of Units: 121
David Lichtenstein's image on Instagram showcases the property involved in this deal. The Brennan Pohle Group and Next Space Development acted as the landlords in this transaction. They were represented by Lightstone Capital as the lender for the acquisition loan.
Players
San Antonio 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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93