Updated Oct 28, 2024
River Rock Capital Group Secures $24.57M Bridge Loan For Acquisition Of Multifamily Property In San Antonio
2355 Austin Highway, San Antonio, Texas 78218, United States
$24,570,000
Units
309
Asset Type
MultiFamily
Closing
May 15, 2022
About this deal
AI
River Rock Capital Group has acquired a multifamily property located at 2355 Austin Highway in San Antonio - Alamo Park, Texas. The property consists of 309 units and offers a total of 449 parking spaces. The acquisition was facilitated through an acquisition bridge loan, which allowed for a swift 16 business day close. The loan amount for the transaction was $24,570,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,570,000
- Address: 2355 Austin Highway, San Antonio - Alamo Park, Texas
- Total Units: 309
- Total Parking Spaces: 449
The transaction was handled by Judah Hammer and Daniel Neiss of Meridian Capital Group, who acted as the brokers for River Rock Capital Group. Their expertise and efforts contributed to the successful acquisition of the property.
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
0.65%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93