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
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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