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126 West Alpine Road

Narrow Road Group Acquires 68-Unit South Congress Commons In Austin
SOLDMultiFamily

Narrow Road Group Acquires 68-Unit South Congress Commons In Austin

126 West Alpine Road

Building Size

Asset Type

MultiFamily

Closing

Jun 12, 2024

AI

The 68-unit South Congress Commons located at 126 West Alpine Road in Austin was sold to Narrow Road Group by Firm Capital. The property, a multifamily asset, was marketed by Chase Easley of Newmark, while financing for the acquisition was arranged by Anthony Tarter, also of Newmark.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Buyer: Anthony Clarke - Narrow Road Group
  • Seller: Firm Capital
  • Broker: Chase Easley - Newmark
  • Mortgage Broker: Anthony Tarter - Newmark

Anthony Clarke of Narrow Road Group successfully acquired the South Congress Commons, adding to their portfolio in Austin. The deal was facilitated by brokers Chase Easley and Anthony Tarter, showcasing a collaborative effort among industry professionals in this transaction.

Players

Chase Easley

Newmark

Broker

8 deals

Broker

Austin 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