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12300 Hymeadow Drive

Barker Pacific Group Acquires Chesapeake Apartments Multifamily Community In Austin For $1.4M
SOLDMultiFamily

Barker Pacific Group Acquires Chesapeake Apartments Multifamily Community In Austin For $1.4M

12300 Hymeadow Drive

Building Size

Asset Type

MultiFamily

Closing

Dec 17, 2024

AI

The property asset involved in the transaction is a 124-unit multifamily community located at 12300 Hymeadow Drive in the Irving market. The property spans 4 acres and is set to undergo repositioning with a significant investment aimed at capital improvements totaling $1.4 million.

Summary of transaction details:

Barker Pacific Group plans to enhance the property through renovations and upgrades, specifically targeting local tech employees and residents. The transaction involved key individuals from both the buyer's and broker's side, facilitating the deal within the Austin, Texas area.

Players

Forrest Bass

Broker

$46.7M

vol

4 deals

Broker
Walker & Dunlop
Walker & DunlopLender

Irving 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