Updated Oct 29, 2024
Brazos Residential Expands Portfolio With Acquisition Of 606-Unit Multifamily Property In Dallas
13606 Esperanza Rd Dallas, TX 75240, USA
Units
606
Asset Type
MultiFamily
Closing
Jun 19, 2023
About this deal
AI
The Thread Apartments, a 606-unit multifamily community, located at 13606 Esperanza Road, has been acquired by Brazos Residential, LLC, based in Dallas, Texas. The acquisition expands Brazos Residential's portfolio and takes advantage of the property's prime location near the Telecom Corridor and Texas Instruments headquarters.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 606
- Address: 13606 Esperanza Road
- Market: Dallas
The deal was facilitated by Taylor Snoddy of Northmarq, who represented the buyer, Brazos Residential, LLC. Kevin Leamy, also from Northmarq, served as the mortgage broker in the transaction.
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MultiFamily
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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