Updated Dec 4, 2024
Brazos Residential Acquires 248-Unit Rush Creek Multifamily In Arlington Texas
1200 West Sublett Road
Units
248
Asset Type
MultiFamily
Closing
Oct 7, 2024
About this deal
AI
The property at 1200 West Sublett Road is a multifamily asset consisting of 248 units situated on 16 acres in Arlington, Texas. It is categorized as affordable housing and benefits from a loan assumption and approval from the Texas Department of Housing and Community Affairs.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 248
- Acres: 16
- Buyer: Will Hancock - Brazos Residential
- Brokers: Bard Hoover, Nick Fluellen, Sam Pettigrew & Wesley Racht - Marcus & Millichap
Will Hancock of Brazos Residential is the buyer, with plans to enhance the property while maintaining its affordability. Marcus & Millichap facilitated the sale of Rush Creek, showcasing their role in the transaction through the efforts of the brokers involved.
Players
Arlington 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