Updated Dec 4, 2024
Clarion Partners Acquires Multifamily Property In Austin From Seller Mill Creek Residential & PGIM
2618 Kramer Lane, Austin, Texas 78758, United States
Units
354
Asset Type
MultiFamily
Closing
May 16, 2022
About this deal
AI
The multifamily property located at 2618 Kramer Ln in Austin was recently sold in a transaction. The sale took place on May 17, 2022. The property consists of 354 units and is part of the multifamily asset type.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 2618 Kramer Ln
- Market: Austin
- Units: 354
The buyer in this transaction was Clarion Partners, while the seller was Mill Creek Residential and PGIM. The brokers involved in the deal were Patton Jones and Andrew Dickson from Newmark.
Players
Austin 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