Updated Oct 28, 2024
SPI Advisory Acquires 229-Unit Multifamily Property In San Antonio From Ascentris
111 Probandt, San Antonio, TX 78204
Building Size
308,191 SF
Asset Type
MultiFamily
Closing
Aug 30, 2021
About this deal
AI
An apartment building located at 111 Probandt St in San Antonio has been sold in a recent transaction. The property, classified as a multifamily asset, consists of 229 units. The sale took place on August 30, 2021 to the buyer, SPI Advisory, while the seller was Ascentris. The transaction was facilitated by brokers Matt Michelson and Patton Jones from Newmark.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 229
- Seller: Ascentris
- Buyer: SPI Advisory
- Brokers: Matt Michelson & Patton Jones - Newmark
The sale of this multifamily property at 111 Probandt St was completed on August 30, 2021. The transaction involved 229 units and was facilitated by brokers Matt Michelson and Patton Jones from Newmark. The seller of the property was Ascentris and the buyer was SPI Advisory.
On the Map
MultiFamily
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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