Updated Dec 19, 2023
Korman Communities & Verde Capital Acquire Multifamily Property In Irving With Bradley Korman & Jake Reiter
1501 Meridian Drive, Irving, TX 75038
Units
288
Asset Type
MultiFamily
Closing
Jan 19, 2022
About this deal
AI
The multifamily property located at 1501 Meridian Dr in Irving has been sold in a recent transaction. The property consists of 288 units, making it a significant investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 1501 Meridian Dr
- Market: Irving
- Number of Units: 288
The buyer involved in this transaction is Korman Communities, represented by Bradley Korman, along with Verde Capital, represented by Jake Reiter. Both parties have recognized the potential of this multifamily property and have seized the opportunity to invest in the Irving market.
Players
Irving MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
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