Brixton Capital Purchases Property At 2825 Main St In Buda With Seller's Rep Kent Myers
2825 Main St, Buda, TX, 78610
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
The property involved in this transaction is Royalton at Sunfield, a 300-unit apartment community located at 2825 Main St, Buda, TX, 78610. The complex was built in 2021 and features a garden-style layout consisting of 14 three-story buildings. The amenities offered include a pool, dog park, office space, community kitchen, entertainment pavilion, tenant lounge, and fitness center. The market value of Buda is referenced due to its location within the Austin suburb.
Summary of transaction details:
- Property Type: Apartment Community
- Transaction Amount: Not disclosed
- Address: 2825 Main St, Buda, TX, 78610
- Market: Buda
- Seller's Representative: Kent Myers - Marcus & Millichap
- Buyer: Brixton Capital
The acquisition was facilitated by Will Balthrope, Jordan Featherston, Kent Myers, and Taylor Hill of Institutional Property Advisors, a division of Marcus & Millichap, who represented the seller, Dallas-based developer SWBC. Brixton Capital was self-represented in the transaction and plans to implement minor upgrades to unit interiors.
Players
Buda 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