Updated Oct 29, 2024
TerraCap Management Acquires MultiFamily Property In Cedar Park, TX For Walker & Dunlop
3440 Ranch Trails, Cedar Park, TX, 78...
Units
337
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is Latitude at Presidio, a 337-unit apartment community located at 3440 Ranch Trails, Cedar Park, TX, within the Cedar Park market. The apartment complex includes one-, two- and three-bedroom units, with an average size of 959 square feet. The property is equipped with various amenities, such as a pool, game room, outdoor grilling and dining stations, fitness center, coffee bar, and a dog park.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not Disclosed
- Address: 3440 Ranch Trails, Cedar Park, TX
- Market: Cedar Park
- Seller's Representative: Matt Pohl-Walker & Dunlop
- Buyer: TerraCap Management
Matt Pohl and Kevin Dufour from Walker & Dunlop represented the undisclosed seller in this transaction, facilitating the acquisition by the Florida-based investment firm TerraCap Management.
Players
Cedar Park 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