Updated Dec 4, 2024
Jesse Mamuhewa And David McCutchan Acquire Multifamily Asset On Thornton Road From Partners Group
2501 Thornton Road
Building Size
90,549 SF
Asset Type
MultiFamily
Closing
Aug 30, 2024
About this deal
AI
The property involved in the transaction is a multifamily asset located at 2501 Thornton Road in Austin. It comprises 104 units and has a total square footage of 90,549.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 2501 Thornton Road
- Market: Austin
- Units: 104
- Square Footage: 90,549
- Buyer: Jesse Mamuhewa & David McCutchan - Resolute Capital
- Seller: Partners Group
- Broker: Andrew Dickson & Patton Jones - Newmark
The deal featured Jesse Mamuhewa and David McCutchan representing Resolute Capital as the buyers, while Partners Group served as the seller. The transaction was facilitated by brokers Andrew Dickson and Patton Jones from Newmark.
On the Map
MultiFamily
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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