FINANCEDMultiFamily
Kairoi Residential Acquires 840-Unit Multifamily Property On N. FM 620 In Austin
2208 N FM 620, Austin, TX 78734, USA
Building Size
1,600 SF
Asset Type
MultiFamily
Closing
Sep 17, 2020
AI
The multifamily property located at 2208 N. FM 620 in Austin has been purchased by Kairoi Residential. The property consists of 840 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 09/18/2020
- Address: 2208 N. FM 620
- Market: Austin
- Buyer: Kairoi Residential
- Broker: Patton Jones & Matt Greer – Newmark Knight Frank
- Units: 840
The deal was brokered by Patton Jones and Matt Greer from Newmark Knight Frank, representing Kairoi Residential in the transaction.
Players
Austin 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93