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1201 E Old Settlers BLVD, R...

Langdon Street Capital Acquires Property In Round Rock With Seller's Reps Drew Garza And Drew Kile
SOLDMultiFamily

Langdon Street Capital Acquires Property In Round Rock With Seller's Reps Drew Garza And Drew Kile

1201 E Old Settlers BLVD, Round Rock...

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The transaction involved the sale of Parkwood Terrace, a 144-unit multifamily community located at 1201 E Old Settlers Blvd, Round Rock, Texas. The property, built in 2000, offers a mix of one-, two-, and three-bedroom units along with amenities including a pool, fitness center, business center, and resident clubhouse. The market for this property is Round Rock.

Summary of transaction details:

The deal featured private investor James Pinheiro as the seller, with Institutional Property Advisors representing him during the transaction. Langdon Street Capital, an investment firm based in Los Angeles, acquired the asset as part of their portfolio strategy.

Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

81 deals

Broker
LC
Langdon Street CapitalBuyer

Round Rock 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