Magellan Investment Partners Acquires 300-Unit Multifamily Property In McKinney, TX
1760 N Ridge Rd, McKinney, Texas 75071, United States
Units
300
Asset Type
MultiFamily
Closing
Sep 11, 2022
AI
The multifamily property located at 1760 North Ridge Road in McKinney, TX has been sold in a recent transaction. The property consists of 300 units and was sold by Cross Development & Kalterra Capital Partners. The buyer in this transaction is Magellan Investment Partners. The deal was facilitated by JLL, who represented both the buyer and the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 300
- Market: McKinney, TX
The sale of this multifamily property marks another successful transaction for the real estate market in McKinney, TX. The involvement of Magellan Investment Partners as the buyer and Cross Development & Kalterra Capital Partners as the seller highlights the confidence and interest in the multifamily market. The transaction was facilitated by JLL, showcasing their expertise in the real estate industry.
Players
Mc Kinney 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