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
College Station 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