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Michael Becker Of SPI Advisory Acquires 416-unit Encore 380 Apartments From Barry Sternlicht
SOLD
Texas
See Similar DealsMultiFamily
Sold 03/04/2025
SOLD
Michael Becker Of SPI Advisory Acquires 416-unit Encore 380 Apartments From Barry Sternlicht
26493 E University Dr
See Similar DealsMultiFamily
Sold 03/04/2025
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
The Encore 380 Apartments is a 416-unit multifamily property located at 26493 East University Drive in Aubrey, Texas. Built in 2017, this Class A community is currently 93% occupied and is positioned as a part of SPI Advisory's growing 8,000-unit Texas portfolio, which will undergo further upgrades following the acquisition.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 416
- Address: 26493 East University Drive
- Market: Aubrey
- Buyer: Michael Becker - SPI Advisory
- Seller: Barry Sternlicht - Starwood Capital Group
This transaction marks SPI Advisory's 50th investment in the Aubrey market, indicating a significant presence in multifamily real estate. The deal involved key representatives, with Michael Becker overseeing SPI Advisory's interests and Barry Sternlicht representing Starwood Capital Group in the sale.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$0.00
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)$0.00
Cash-on-Cash Return0.00%
Monthly Debt Service$0.00
Annual Debt Service$0.00
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