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245 South Barnes Drive, Gar...

CAT Equity Acquires Multifamily Property In Garland From Antelope Investment Properties
SOLDMultiFamily

CAT Equity Acquires Multifamily Property In Garland From Antelope Investment Properties

245 South Barnes Drive, Garland, TX 75042

Building Size

1,017 SF

Asset Type

MultiFamily

Closing

Jun 21, 2020

AI

An multifamily property located at 245 S Barnes Drive in Garland has recently been sold. The property consists of 216 units and spans across 1,017 square feet. This transaction took place on 06/21/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not provided
  • Address: 245 S Barnes Drive, Garland
  • Market: Garland
  • Size: 1,017 square feet
  • Units: 216

The seller of the property is Antelope Investment Properties, while the buyer is CAT Equity. The deal was facilitated by Pete Hartnett, Rowan Burch, Coleton Burch, and Matt Waskow of Rowan Multifamily Advisors, representing both the buyer and the seller.

Players

Peter Hartnett

Broker

$41.9M

vol

4 deals

Broker

Garland 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