Updated Dec 4, 2024
CIM Group Sells Lennox At West Village Apartments In Dallas For Multifamily
3700 Cole Avenue
Units
159
Asset Type
MultiFamily
Closing
May 27, 2024
About this deal
AI
The Lennox at West Village Apartments, a 159-unit community located at 3700 Cole Avenue in Dallas, with an area spanning 6 acres, was recently sold by CIM Group. The multifamily property offers a range of unit types from studios to three-bedroom apartments and is part of the West Village mixed-use development.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not provided
- Units: 159
- Acres: 6
- Address: 3700 Cole Avenue
- Market: Dallas
NorthMarq facilitated the sale of the Lennox at West Village Apartments, with brokers Charles Hubbard, Eric Stockley, and Taylor Snoddy representing the deal. This community, which offers various amenities alongside its residential units, was previously transacted back in 2013.
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