Updated May 12, 2025
Castle Lanterra Properties Acquires McKinney Multifamily Property From Seller Alliance Residential
2650 S McDonald St, McKinney, TX, USA
Building Size
1,406 SF
Asset Type
MultiFamily
Closing
Oct 29, 2021
About this deal
AI
The asset involved in this transaction is a multifamily property located at 2650 S McDonald St in McKinney, comprising a total of 255 units. The transaction was executed on October 29, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 2650 S McDonald St
- Market: McKinney
- Units: 255
- Buyer: Castle Lanterra Properties
- Buyer's Representative: Elie Rieder
- Seller: Alliance Residential
- Seller's Representative: Bruce Ward
Elie Rieder represented Castle Lanterra Properties in the acquisition of the multifamily asset, while Bruce Ward represented Alliance Residential in the transaction. The deal highlights the involvement of two key players in the multifamily market.
On the Map
MultiFamily
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Players
McKinney 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