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2600 Kinship Pkwy Celina, T...

West Shore Acquires 272-Unit Multifamily Community In Celina, Texas
SOLDMultiFamily

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

Lee Rosenthal

West Shore

Buyer

$955.4M

vol

5 deals

Buyer
LD
LIV DevelopmentSeller

Texas 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