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2934 Alouette Drive

S2 Capital Acquires 642-Unit Silverbrook Apartment Complex In Grand Prairie
SOLDMultiFamily

S2 Capital Acquires 642-Unit Silverbrook Apartment Complex In Grand Prairie

2934 Alouette Drive

Building Size

Asset Type

MultiFamily

Closing

Sep 26, 2023

AI

The Silverbrook apartment complex, consisting of 642 units, located at 2934 Alouette Drive in Grand Prairie, has been acquired by S2 Capital. Led by founder and CEO Scott Everett, this purchase marks S2 Capital's first acquisition this year. The property is set to undergo renovations, including upgraded units, as well as improved amenities such as pickleball courts, a dog park, and a pool area with grilling stations.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 2934 Alouette Drive
  • Market: Grand Prairie
  • Units: 642

In addition to S2 Capital, the key individuals and companies involved in this deal include brokers Danny Baker and William Hubbard from CBRE, who represented the buyer. Harry Krieger, also from CBRE, served as the mortgage broker. Together, they facilitated the successful acquisition of the Silverbrook apartment complex in Grand Prairie.

Players

William Hubbard

Institutional Property Advisors

Broker

$16.7M

vol

28 deals

Broker
Scott Everett

Scott Everett

S2 Capital

Buyer

$337M

vol

10 deals

Buyer

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