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2413 Race Street, Fort Wort...

Starboard Realty Advisors Acquires Multifamily Property On Race Street In Fort Worth
SOLDMultiFamily

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

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

81 deals

Broker
SA
Starboard Realty AdvisorsBuyer

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