Harbor Group International Acquires Multifamily Property In Irving For $117.6M
385 E Las Colinas Blvd, Irving, TX, USA
$117,600,000
$56,321/SF
Building Size
2,088 SF
Asset Type
MultiFamily
Closing
Apr 26, 2021
AI
Harbor Group International, represented by Jordan Slone and T. Richard Litton Jr., recently secured a loan for a multifamily property located at 385 E Las Colinas Blvd in Irving. The property, consisting of 908 units, attracted the attention of lender KREF Lending, with Matt Salem overseeing the loan process.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $117,600,000
- Address: 385 E Las Colinas Blvd
- Market: Irving
- Units: 908
- Landlord: Harbor Group International - Jordan Slone & T. Richard Litton Jr.
- Lender: KREF Lending - Matt Salem
Harbor Group International, led by Jordan Slone and T. Richard Litton Jr., successfully secured a loan amount of $117,600,000 for the acquisition or refinancing of the multifamily property located at 385 E Las Colinas Blvd in Irving. The loan was provided by KREF Lending, with Matt Salem representing the lender in this transaction.
Players
Irving 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93