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1909 Hamman Road, Bay City,...

John Bollinger's 3CM Multifamily Acquires 152-Unit Multifamily Property In Bay City, TX From Bill Doogan's Interurban Companies With Greysteel Brokers
SOLDMultiFamily

John Bollinger's 3CM Multifamily Acquires 152-Unit Multifamily Property In Bay City, TX From Bill Doogan's Interurban Companies With Greysteel Brokers

1909 Hamman Road, Bay City, TX 77414

Building Size

112,126 SF

Asset Type

MultiFamily

Closing

Dec 23, 2021

AI

A multifamily property located at 1909 Hamman Rd in Bay City, TX has been sold in a recent transaction. The property consists of 152 units, making it a valuable asset in the market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 1909 Hamman Rd
  • Market: Bay City, TX
  • Number of Units: 152

The buyer in this transaction is John Bollinger, representing 3CM Multifamily. On the other hand, the seller is Bill Doogan from Interurban Companies. The deal was facilitated by brokers Chris “Castle” Castillo, Sr., Doug Banerjee, and Andrew Hanson, who are associated with Greysteel.

By acquiring this multifamily property, John Bollinger and 3CM Multifamily have made a significant investment in the Bay City market. The sellers, Interurban Companies, have successfully closed this transaction generating a return on their investment. The involvement of the experienced brokers from Greysteel highlights the importance of professional representation in such real estate deals.

Players

Doug Banerjee

Greysteel

Broker

17 deals

Broker
3M
3CM MultifamilyBuyer

Bay City 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