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
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