Updated Oct 28, 2024
Aspen Capital Group Acquires 616-Unit Multifamily Property On Plum Lane In Arlington, TX
2216 Plum Lane, Arlington, Texas 76010, United States
Units
616
Asset Type
MultiFamily
Closing
Oct 12, 2022
About this deal
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).
On the Map
MultiFamily
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Players
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