Updated Oct 28, 2024
Argentic Real Estate Investment Acquires 148-Unit Multifamily Property In San Antonio For $22.5M
1947 Larkspur, San Antonio, TX 78213
$22,500,000
$3,218/SF
Building Size
6,992 SF
Asset Type
MultiFamily
Closing
Sep 30, 2021
About this deal
AI
Argentic Real Estate Investment LLC has provided a loan worth $22,500,000 for the acquisition of a multifamily property located at 1947 Larkspur Drive in San Antonio. The property consists of 148 units, making it a significant investment in the local market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Address: 1947 Larkspur Drive
- Market: San Antonio
- Number of Units: 148
Rincon Real Estate Investments, represented by Tommy Rincon and Jamie Michalove, acts as the landlord for this property. The brokers involved in the deal are Brad Williamson and Mitch Sinberg from Berkadia, who provided their expertise to facilitate the transaction.
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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93