Updated Oct 28, 2024
L&B Realty Advisors Acquires Multifamily Property In Dallas From RED Development
2323 North Akard Street, Dallas, TX 75201, USA
Building Size
360,147 SF
Asset Type
MultiFamily
Closing
Aug 26, 2021
About this deal
AI
A multifamily property located at 2323 N Akard St in Dallas has been sold in a recent transaction. The property spans a total of 360,147 square feet, offering ample space for residents.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 2323 N Akard St
- Market: Dallas
- Square Footage: 360,147
The seller of the property was RED Development, while the purchaser was L&B Realty Advisors LLP. The deal was facilitated by a team of brokers including Phoebe Brent and Ryan Reid from Eastdil Secured, as well as Brandy Lawrence and Phillip Talamantes from Lincoln Property Company.
Players
Dallas 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