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8930 Galewood Drive, Austin...

NorthMarq Facilitates $2.7M Acquisition Loan For Multifamily Property In Austin
FINANCEDMultiFamily

NorthMarq Facilitates $2.7M Acquisition Loan For Multifamily Property In Austin

8930 Galewood Drive, Austin, TX, USA

$2,700,000

$132/SF

Building Size

20,400 SF

Asset Type

MultiFamily

Closing

Mar 29, 2021

AI

A multifamily property located at 8930 Galewood Drive in Austin has been involved in a recent closed transaction. The property consists of 48 units and was acquired through an acquisition loan. The loan amount for the transaction was $2,700,000. The deal was facilitated by Chase Johnson from NorthMarq.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Address: 8930 Galewood Drive
  • Market: Austin
  • Loan Type: Acquisition Loan
  • Units: 48

Chase Johnson from NorthMarq played a key role as the broker in this transaction. They were responsible for representing the buyer in the deal.

Players

Chase Johnson

Cushman & Wakefield

Broker

$317.1M

vol

7 deals

Broker
NorthMarq
NorthMarqBrokerage

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93