West Shore Acquires 272-Unit Multifamily Community In Celina, Texas
2600 Kinship Pkwy Celina, TX 75009, USA
Building Size
—
Asset Type
MultiFamily
Closing
Jul 18, 2023
AI
The Livano at Bluewood, a 272-unit multifamily community located at 2600 Kinship Parkway in Celina, Texas, has been acquired by West Shore. The property, which has been renamed Atlas Bluewood Apartments, adds to West Shore's expanding portfolio in Texas and southern markets.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: Not provided
- Units: 272
- Address: 2600 Kinship Parkway, Celina, Texas
- Market: Celina
West Shore, represented by Lee Rosenthal, purchased The Livano at Bluewood from LIV Development and Mesa Real Estate Partners. This acquisition marks a strategic move by West Shore to strengthen its presence in Texas and southern markets. The renaming of the property to Atlas Bluewood Apartments signifies West Shore's commitment to repositioning and enhancing the multifamily community in Celina.
Players
Texas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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