Harvest Equities Acquires 680-Unit Multifamily Property In San Antonio From MC Cos
11800 Braesview
Building Size
—
Asset Type
MultiFamily
Closing
Dec 5, 2024
AI
The Place at Castle Hills is a multifamily property located at 11800 Braesview in San Antonio, encompassing 680 units across 23 acres. The property, built in 1984, features renovated units and extensive amenities, as well as a location close to San Antonio International Airport.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Units: 680
- Acres: 23
- Buyer: Harvest Equities
- Seller: MC Cos.
- Brokers: Benjamin (Ben) Kalter - Marcus & Millichap; Drew Garza & Will Balthrop - Institutional Property Advisors
The transaction involved Harvest Equities acquiring the property from MC Cos., with the deal facilitated by agents from Institutional Property Advisors and Marcus & Millichap. The brokers played a critical role in negotiating the sale of this substantial multifamily asset.
Players
San Antonio 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