Updated Oct 29, 2024
Sherman Residential Acquires 264-Unit Multifamily Community In San Antonio From Right Quest
12136 US-90 San Antonio, TX 78245, USA
Units
264
Asset Type
MultiFamily
Closing
Jul 27, 2023
About this deal
AI
Sherman Residential, led by David Sherman, has acquired Eleven West, a 264-unit luxury community located at 12136 US Highway 90 in San Antonio. Spanning over 14 acres, this multifamily property offers residents an exceptional living experience. The transaction took place on 27th July 2023, with Right Quest as the seller.
Summary of Transaction Details:
- Property Type: Multifamily
- Number of Units: 264
- Acres: 14
- Address: 12136 US Highway 90, San Antonio
Sherman Residential's acquisition of Eleven West adds another prestigious property to their portfolio. With the recent purchase of Axis Grand Crossing, a 322-unit luxury multifamily community in Grand Prairie, Texas, Sherman Residential continues to expand its presence in the real estate market.
Players
Texas 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