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3330 Eastpark Blvd

Price Brothers Acquires 333-Unit Eastpark Multifamily Community In Denton Texas
SOLDMultiFamily

Price Brothers Acquires 333-Unit Eastpark Multifamily Community In Denton Texas

3330 Eastpark Blvd

Building Size

Asset Type

MultiFamily

Closing

Oct 15, 2024

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:

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.

Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

82 deals

Broker

Denton 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