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11010 Harmony Hill Ln, Rowl...

Weidner Apartment Homes Acquires MultiFamily In Rowlett, TX For $Undisclosed
SOLDMultiFamily

Weidner Apartment Homes Acquires MultiFamily In Rowlett, TX For $Undisclosed

11010 Harmony Hill Ln, Rowlett, TX, 7...

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The Harmony Hill multifamily development in Rowlett, Texas has been acquired by Weidner Apartment Homes. The property features 644 units, offering one-, two-, and three-bedroom options with modern amenities such as stainless steel appliances, granite countertops, tile backsplashes, built-in desks, and covered balconies. The community includes various recreational facilities like two pools, fitness center, outdoor grilling stations, coworking lounge, dog park, and walking trails, in addition to a resident clubhouse. The deal was brokered off-market by Kevin O’Boyle of CBRE, with the seller being Huffines Communities. The transaction price remains undisclosed.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Undisclosed
  • Address: 11010 Harmony Hill Ln, Rowlett, TX
  • Market: Rowlett
  • Buyer: Weidner Apartment Homes
  • Seller's Rep: Kevin O’Boyle (CBRE)

Seattle-based Weidner Apartment Homes enlisted the expertise of Kevin O’Boyle from CBRE to finalize the acquisition of the Harmony Hill multifamily development in Rowlett. The seller, Huffines Communities, was represented in the off-market transaction. Weidner Apartment Homes, known for their strategic investments in real estate, saw the opportunity in the northeastern Dallas suburb of Rowlett, securing a noteworthy addition to their portfolio through this acquisition.

Players

Kevin O’Boyle

CBRE

Broker

5 deals

Broker
Weidner Apartment Homes
Weidner Apartment HomesBuyer

Rowlett 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