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1001 West Rosedale Street, ...

Lightbulb Capital Group Acquires Multifamily Property In Fort Worth
SOLDMultiFamily

Lightbulb Capital Group Acquires Multifamily Property In Fort Worth

1001 West Rosedale Street, Fort Worth, Texas 76104, United States

Building Size

14,850 SF

Asset Type

MultiFamily

Closing

Apr 4, 2022

AI

The multifamily property located at 1001 W Rosedale St in Fort Worth has been sold. The transaction took place on 04/05/2022. The property, consisting of 390 units, was sold by Lang Partners to Lightbulb Capital Group, represented by Jay Schuminsky. The sale was facilitated by Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeffrey Kindorf, and Will Balthrope of Institutional Property Advisors (IPA) - Marcus & Millichap.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 390
  • Address: 1001 W Rosedale St
  • Market: Fort Worth

The deal was successfully completed with the assistance of the brokers Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeffrey Kindorf, and Will Balthrope from Institutional Property Advisors (IPA) - Marcus & Millichap. They played a crucial role in representing the buyer, Lightbulb Capital Group, and facilitating the transaction.

Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

81 deals

Broker

Jay Schuminsky

Lightbulb Capital Group

Buyer

$7.5M

vol

3 deals

Buyer
LP
Lang PartnersSeller

Fort Worth MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale 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