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2338 South Harvey Mitchell ...

SB Pacific Group Acquires Multifamily Property In College Station From Koontz Corporation
SOLDMultiFamily

SB Pacific Group Acquires Multifamily Property In College Station From Koontz Corporation

2338 South Harvey Mitchell Parkway, College Station, Texas 77845, United States

Building Size

Asset Type

MultiFamily

Closing

Jul 27, 2022

AI

The sale of a multifamily property in College Station has been completed. The property, located at 2338 Harvey Mitchell Pky S, sits on a 14-acre lot. The transaction involved the sale of 340 units in total.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: N/A
  • Units: 340
  • Acres: 14

The buyer of the property is SB Pacific Group, while the seller is Koontz Corporation, specifically Bart Koontz. The deal was facilitated by brokers Will Balthrope, Drew Garza, and Jennifer Campbell from Institutional Property Advisors.

Players

Drew Garza

Institutional Property Advisors

Broker

$130.6M

vol

37 deals

Broker
SG
SB Pacific GroupBuyer

Bart Koontz

Koontz Corporation

Seller

3 deals

Seller

College Station 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