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1955 Larkspur Dr, San Anton...

FCP And OREI Acquire 284-Unit Multifamily Property In San Antonio
SOLDMultiFamily

FCP And OREI Acquire 284-Unit Multifamily Property In San Antonio

1955 Larkspur Dr, San Antonio, TX 78213

Building Size

Asset Type

MultiFamily

Closing

May 12, 2022

AI

1955 Larkspur Drive, a multifamily property located in San Antonio, was recently sold in a closed transaction. The property consists of 284 units, making it an attractive investment opportunity in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Date: 05/13/2022
  • Address: 1955 Larkspur Drive
  • Market: San Antonio
  • Units: 284

The buyer in this transaction is FCP, represented by Cole Kellogg, and One Real Estate Investment (OREI), represented by Jeronimo Hirschfeld. They recognized the potential of 1955 Larkspur Drive and seized the opportunity to acquire this multifamily asset. Will Caruth of Berkadia facilitated the deal as the broker representing the buyer.

Players

Will Caruth

Berkadia

Broker

2 deals

Broker

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