Updated Oct 29, 2024
Cohen-Esrey Apartment Investors LLC Acquires MultiFamily Property In San Antonio TX
1530 NW Crossroads, San Antonio, TX...
Units
276
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Preserve at Westover Hills is a 276-unit apartment community located at 1530 NW Crossroads in San Antonio, TX. The property offers one- and two-bedroom floor plans and various amenities including a pool, fitness center, playground, dog park, outdoor grilling areas, and a package locker room.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not disclosed
- Market: San Antonio
- Seller's Rep: Matt Michelson(Newmark), Patton Jones(Newmark)
- Buyer: Cohen-Esrey Apartment Investors LLC
Patton Jones and Matt Michelson of Newmark represented the seller, Texas-based InvestRes, in the transaction. Cohen-Esrey Apartment Investors LLC, based in Kansas, acquired the property, which was 96 percent occupied at the time of sale.
Players
San Antonio 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