ShainRealty Capital Acquires MultiFamily Property In Dallas For $40.2M | 2200 North Belt Line Road | Wesley "Wes" Racht | MultiFamily | Sale

Summary

Sale

TEXAS

MultiFamily

231,568 sqft

The property involved in this transaction is located at 2200 North Belt Line Road in Dallas. It is a multifamily asset with a total of 256 units. The sale price for the property was $40,200,000, resulting in a per unit price of $157,031. The total square footage of the property is 231,568, with a price per square foot of $174.

Summary of transaction details

Property Type: MultiFamily
Transaction Amount: $40,200,000
Units: 256
Price Per Unit: $157,031
Square Footage: 231,568
Price Per Square Foot: $174

The buyer in this transaction is ShainRealty Capital, represented by Jonathan Shainberg and Elliot Shainberg. The seller is Tim Carey. The broker involved in the deal is Wesley Racht from Marcus & Millichap Dallas Office.

According to the buyer, the property consists of 100% unrenovated/classic units. The units offer 905 square foot bedroom sizes and 9-foot ceiling heights. The purchaser assumed the existing loan in the deal, which was a $25 million HUD Loan originated by Dwight Capital. The loan currently carries a fixed interest rate of 2.83% until its maturity on May 15th, 2053.

Players

All
2

Agents
1
Agencies
1

Wesley "Wes" Racht

Associate

$40.2M Sold

Marcus & Millichap

Details

Deal Summary

SOLD

IMAGE: Jonathan Shainberg, Elliot Shainberg & Wesley Racht DATE: 08/31/2023 ADDRESS: 2200 North Belt Line Road MARKET: Dallas ASSET TYPE: MultiFamily BUYER: ShainRealty Capital (@ShainRealty) - Jonathan Shainberg (@J.Shain) & Elliot Shainberg (@Elliotshainberg) SELLER: Tim Carey BROKER: Wesley Racht (@Wesracht) - Marcus & Millichap Dallas Office SALE PRICE: $40,200,000 UNITS: 256 ~ PPU: $157,031 SF: 231,568 ~ PPSF: $174 NOTE FROM BUYER: The property consists of 100% unrenovated/classic units and offers 905 SF bedroom sizes, as well as 9-foot ceiling heights. The existing loan was assumed by the Purchaser in the deal. Dwight Capital originated the $25M HUD Loan, which currently carries a 2.83% fixed interest rate until maturity, due May 15th, 2053. ,Texas

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Address2200 North Belt Line Road

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