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2216 Plum Lane, Arlington, ...

Aspen Capital Group Acquires 616-Unit Multifamily Property On Plum Lane In Arlington, TX
SOLDMultiFamily

Aspen Capital Group Acquires 616-Unit Multifamily Property On Plum Lane In Arlington, TX

2216 Plum Lane, Arlington, Texas 76010, United States

Building Size

Asset Type

MultiFamily

Closing

Oct 12, 2022

AI

The multifamily property located at 2216 Plum Lane in Arlington, TX has been sold in a recent transaction. The property spans over 21 acres and consists of 616 residential units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 2216 Plum Lane, Arlington, TX
  • Market: Arlington, TX
  • Units: 616
  • Acres: 21

The buyer of the property is Aspen Capital Group. The seller in this transaction is Archway Equities, represented by Sean Moghavem. The deal was facilitated by Drew Kile, Joey Tumminello, Michael Ware, and Asher Hall from Institutional Property Advisors (IPA).

Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

82 deals

Broker
AE
Archway EquitiesSeller

Arlington 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