Virtus Real Estate Capital Acquires 270-Unit Multifamily In Cedar Park, Texas
12638 Ridgeline Blvd, Cedar Park, TX 78613
Building Size
—
Asset Type
MultiFamily
Closing
Apr 19, 2023
AI
The sale of Caliza, a Class A garden-style apartment community comprising 270 units, has been arranged by JLL Capital Markets in Cedar Park, Texas. The property, located at 12638 Ridgeline Blvd, was acquired by Virtus Real Estate Capital from the seller, Internacional Realty. Caliza boasts a best-in-class amenity package, including a recently renovated resort-style swimming pool, expansive fitness center, and group exercise room.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Market: Cedar Park
- Units: 270
The brokers in this deal were Ryan McBride and Robert Arzola from JLL, representing the buyer, Virtus Real Estate Capital. Christopher Kott from Internacional Realty was also involved in the transaction.
Players
Cedar Park 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