Updated Oct 28, 2024
Jay Schuminsky Acquires 566-Unit Multifamily In Rockwall & McKinney, TX From SWBC Real Estate
2300 Discovery Boulevard, Rockwall, Texas 75032, United States
Units
566
Asset Type
MultiFamily
Closing
Mar 2, 2022
About this deal
AI
The recent closed transaction involves the sale of a multifamily property located at 2300 Discovery Blvd and 7920 Collin David South Dr in Rockwall and McKinney. The property consists of 566 units and was sold on 03/03/2022. The buyer, Jay Schuminsky, acquired the property from SWBC Real Estate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 566
- Market: Rockwall & McKinney
Drew Kile, Joey Tumminello, Michael Ware, and Taylor Hill from Institutional Property Advisors (IPA) - Marcus & Millichap represented both the buyer and the seller in this transaction.
Players
Rockwall 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