Heritage Capital Group Acquires Multifamily Property In Dallas For $33.2M Loan
SOLD
$33,200,000
+ 3
Texas
See Similar DealsMultiFamily32,260 SF
Sold 08/10/2020
SOLD
Heritage Capital Group Acquires Multifamily Property In Dallas For $33.2M Loan
3030 Elizabeth Street, Dallas, TX 75204, USA
See Similar DealsMultiFamily32,260 SF
Sold 08/10/2020
+ 3
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$1,029
Total Square Footage:32,260 SF
Transaction Type:Sale
The multifamily property located at 3030 Elizabeth St in Dallas has been sold in a transaction facilitated by Institutional Property Advisors (IPA). The property consists of 179 residential units and was sold by The Ergas Group to Heritage Capital Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 3030 Elizabeth St
- Market: Dallas
- Units: 179
The sale of the property was represented by Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware, Taylor Hill, and Asher Hall from Institutional Property Advisors (IPA). The lending for this transaction was provided by Ready Capital, with an acquisition loan amount of $33,200,000.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,770,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$117,952.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$157,384.94
Annual Debt Service$1,888,619.25
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