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3807 Plantation Grove Boule...

McGuire Family Properties Acquires 118-Unit Las Misiones Apartments In Mission, Rio Grande Valley
SOLDMultiFamily

McGuire Family Properties Acquires 118-Unit Las Misiones Apartments In Mission, Rio Grande Valley

3807 Plantation Grove Boulevard

Building Size

Asset Type

MultiFamily

Closing

Jan 10, 2024

AI

Las Misiones Apartments, a 118-unit multifamily complex located at 3807 Plantation Grove Boulevard in Mission, Rio Grande Valley, has been sold to McGuire Family Properties in an undisclosed deal. The property, built in 2005, offers various one- to three-bedroom units and amenities.

Summary of transaction details:

This transaction involved the sale of Las Misiones Apartments to McGuire Family Properties. The buyer, represented by Bryan McGuire of McGuire Family Properties, acquired the 118-unit multifamily complex. The deal was facilitated by a team of NorthMarq brokers, including Brian Booth, Bryan VanCura, Moses Siller, Phil Grafe, and Zar Haro.

Players

Moses Siller

NorthMarq

Broker

14 deals

Broker

Mission 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