Updated Feb 10, 2026
Forrest Jinks & Andy Eicher Of Altus Equity Group Acquire 279-Unit Multifamily Portfolio In Lubbock
3201 West Loop 289 & 5820 34th Street
Units
279
Asset Type
MultiFamily
Closing
Jan 22, 2026
About this deal
AI
Altus Equity Group acquired a 279-unit multifamily portfolio located at 3201 West Loop 289 and 5820 34th Street in Lubbock, Texas. The properties, known as Bentwood Apartments and Bend at Bentwood, are approximately 99% occupied and were obtained through an off-market transaction with long-term, fixed-rate assumable debt. No renovations are planned for the assets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 279
- Buyer: Forrest Jinks & Andy Eicher
- Company: Altus Equity Group
- Market: Lubbock
Forrest Jinks and Andy Eicher represented Altus Equity Group in this transaction, highlighting their strategy of investing in stabilized, cash-flowing assets amid capital market uncertainty.
On the Map
MultiFamily
View full map
Players
Lubbock MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Lubbock multifamily sales on Traded.
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