Jay Schuminsky Acquires 566-Unit Multifamily In Rockwall & McKinney, TX From SWBC Real Estate
2300 Discovery Boulevard, Rockwall, Texas 75032, United States
Building Size
—
Asset Type
MultiFamily
Closing
Mar 2, 2022
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
Loading comparables…
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