Matthew Stone And Chris Mendenhall Of ClearWorth Capital Acquire Multifamily Asset In Grand Prairie
2650 Forum Drive
Building Size
285,344 SF
Asset Type
MultiFamily
Closing
Nov 19, 2024
AI
The property asset involved in the transaction is a multifamily unit located at 2650 Forum Drive in Grand Prairie. It comprises 304 units and encompasses a total square footage of 285,344.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 2650 Forum Drive
- Market: Grand Prairie
- Units: 304
- Square Footage: 285,344
- Buyer: Matthew Stone & Chris Mendenhall - ClearWorth Capital
- Seller: Cottonwood Residential
- Brokers: Grant Raymond & Asher Hall - Cushman & Wakefield
The deal was facilitated by Grant Raymond and Asher Hall, who represented the brokerage firm Cushman & Wakefield in the transaction. The buyer, ClearWorth Capital, is represented by Matthew Stone and Chris Mendenhall, who are the key individuals in this transaction.
Players
Grand Prairie 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