UDR Inc. Acquires Multifamily Asset In Farmers Branch From Billingsley Co. For $110M
SOLD
$110,000,000
Texas
See Similar DealsMultiFamily636 SF
Sold 04/07/2021
SOLD
UDR Inc. Acquires Multifamily Asset In Farmers Branch From Billingsley Co. For $110M
2001 Wittington Pl, Farmers Branch, TX 75234, USA
See Similar DealsMultiFamily636 SF
Sold 04/07/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$172,956
Total Square Footage:636 SF
Transaction Type:Sale
The multifamily property located at 2001 Wittington Place in Farmers Branch was recently sold for $110,000,000. The property consists of 636 units, with a per unit price of $172,956.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Units: 636
- Price Per Unit: $172,956
- Address: 2001 Wittington Place, Farmers Branch
The seller of the property was Billingsley Co., represented by Lucy Billingsley and Henry Billingsley. The buyer in this transaction was UDR Inc. The deal was facilitated by JLL as the broker.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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