Blue Ocean Capital Acquires Villa Creek Apartments In Farmers Branch With Financing Arranged By CBRE's Givens And Siddall
2835 Villa Creek Dr, Farmers Branch...
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2023
AI
The 161-unit apartment complex located at 2835 Villa Creek Dr in Farmers Branch, Texas was recently sold by Darwin German Real Estate Investments. The property, built in 1965, consists of one- and two-bedroom units and was originally acquired by Darwin German in 2016 through an off-market transaction.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 2835 Villa Creek Dr, Farmers Branch
- Market: Dallas
- Borrower's Rep: Robert Siddall (Colliers International), William (Wills) Givens (CBRE)
- Lender: Unknown life insurance company
William Givens and Robert Siddall, both from CBRE, were responsible for arranging the acquisition financing on behalf of the new ownership, adding financial expertise to the transaction. The buyer, Blue Ocean Capital LLC, based in Dallas, was represented by Chris Deuillet and William Hubbard of CBRE in the acquisition of Villa Creek.
Players
Dallas 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