Updated Dec 4, 2024
Price Brothers Acquires 333-Unit Eastpark Multifamily Community In Denton Texas
3330 Eastpark Blvd
Units
333
Asset Type
MultiFamily
Closing
Oct 15, 2024
About this deal
AI
The transaction involved the acquisition of a multifamily asset located at 3330 Eastpark Boulevard in Denton, Texas. The property comprises 333 units situated on 11 acres and was constructed in 2022. This apartment community includes modern amenities tailored to today's living standards.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 3330 Eastpark Boulevard
- Market: Denton
- Units: 333
- Acres: 11
- Buyer: Price Brothers
- Broker Representatives: Cameron Purse, Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill & Will Balthrope - Institutional Property Advisors - Marcus & Millichap
An affiliate of Price Brothers completed the acquisition, with the sale represented by Institutional Property Advisors (IPA) of Marcus & Millichap, who procured both the buyer and the undisclosed seller.
On the Map
MultiFamily
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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