SPI Advisory Acquires Parkview Terraces, A 244-unit South Austin Multifamily Property
10101 S 1st St Austin, TX 78748, USA
Building Size
—
Asset Type
MultiFamily
Closing
Aug 31, 2023
AI
Parkview Terraces, a 244-unit apartment community in South Austin, has been acquired by SPI Advisory. The property, originally developed in 2009 as Cortland Southpark Terraces, recently underwent renovations. The seller and sales price were not disclosed.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 244
- Market: Austin
SPI Advisory, represented by Michael Becker, facilitated the acquisition of Parkview Terraces. The details of the transaction, including the buyer's representative and any additional parties involved, were not provided.
Players
Austin 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