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Investors Management Group Acquires Multifamily Property In San Antonio For $33M

Property Image
SOLD
$33,000,000
Roberto (Robert) Arzola
Greg Toro
Sean Sorrell
+ 2

Texas

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MultiFamily1,227 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Investors Management Group Acquires Multifamily Property In San Antonio For $33M

24442 U.S. 281, San Antonio, TX, USA

See Similar Deals
MultiFamily1,227 SF
Sold
Roberto (Robert) Arzola
Greg Toro
Sean Sorrell
+ 2
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$26894
Total Square Footage:1227 SF
Transaction Type:Sale

The multifamily property located at 24442 US-281 in San Antonio has been sold for a price of $33,000,000. The transaction took place on April 26, 2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $33,000,000
  • Address: 24442 US-281, San Antonio
  • Market: San Antonio
  • Units: 228
  • Price Per Unit: $144,737

The buyer of the property is Investors Management Group, represented by Neil Schimmel and Karlin Conklin. The transaction was facilitated by brokers Sean Sorrell, Greg Toro, and Robert Arzola from JLL Capital Markets.

Players

Sean Sorrell
JLL
Sean Sorrell
4 deals$33M volume
BROKER
Greg Toro
JLL
Greg Toro
3 deals$33M volume
BROKER
Roberto (Robert) Arzola
JLL
Roberto Arzola
10 deals$33M volume
BROKER
KC
Karlin Conklin
3 deals$117.1M volume
BUYER
NS
Neil Schimmel
3 deals$33M volume
BUYER

Details

SOLD
IMAGE: Karlin Conklin, Neil Schimmel, Greg Toro, Sean Sorrell, & Robert Arzola DATE: 04/26/2021 ADDRESS: 24442 US-281 MARKET: San Antonio ASSET TYPE: Multifamily BUYER: Investors Management Group - Neil Schimmel & Karlin Conklin BROKERS: Sean Sorrell, Greg Toro, & Robert Arzola - JLL Capital Markets SALE PRICE: $33,000,000 UNITS: 228 ~ PPU: $144,737

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,759,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$117,242.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,436.84
Annual Debt Service$1,877,242.03