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
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