Starboard Realty Advisors Acquires Multifamily Property On Race Street In Fort Worth
2413 Race Street, Fort Worth, Texas 76111, United States
Building Size
—
Asset Type
MultiFamily
Closing
Feb 9, 2022
AI
An undisclosed multifamily property in Fort Worth has been sold in a recent transaction. The property, located at 2413 Race Street, consists of 140 units. The sale was conducted by Starboard Realty Advisors, with Steve Carlton representing the buyer. The transaction was facilitated by Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeff Kindorf, and Will Balthrope of Institutional Property Advisors (IPA).
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 2413 Race Street, Fort Worth
- Market: Fort Worth
- Units: 140
The involvement of Starboard Realty Advisors, represented by Steve Carlton, highlights their active role in the transaction. They worked closely with Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeff Kindorf, and Will Balthrope of IPA to successfully close the deal.
Players
Fort Worth 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