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
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