JARS Excel Partners Acquires Multifamily Property In Irving For 248 Units
1516 E Irving Blvd, Irving, TX, USA
Building Size
139,390 SF
Asset Type
MultiFamily
Closing
Dec 29, 2020
AI
Located in Irving, this multifamily property was recently sold on December 30, 2020. The property consists of 248 units and is situated at the intersection of 1516 E Irving Blvd and 409 N Irving Heights Dr.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 12/30/2020
- Address: 1516 E Irving Blvd & 409 N Irving Heights Dr
- Market: Irving
- Units: 248
Roxana Vaziri and Jonathan Benitah from Creative Realty Partners were the sellers, while JARS Excel Partners acted as the buyers. The transaction was facilitated by Taylor Snoddy and Philip Wiegand from NorthMarq, serving as brokers in the deal.
Players
Irving 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