Tides Equities Acquires Roanoke And Dallas Multifamily For $172M
SOLD
$172,000,000
Texas
See Similar DealsMultiFamily744,926 SF
Sold 01/25/2022
SOLD
Tides Equities Acquires Roanoke And Dallas Multifamily For $172M
3939 Trinity Mills Road
See Similar DealsMultiFamily744,926 SF
Sold 01/25/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$230
Total Square Footage:744,926 SF
Transaction Type:Sale
The multifamily property located at 13900 Chadwick Parkway & 3939 East Trinity Mills Road in Roanoke and Dallas has been sold. The property spans over 37.32 acres and consists of 764 units with a total area of 744,926 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $172,000,000
- Market: Roanoke & Dallas
- Address: 13900 Chadwick Parkway & 3939 East Trinity Mills Road
- Acres: 37.32
- Units: 764
- Square Feet: 744,926
Tides Equities, represented by Sean Kia and Ryan Andrade, acquired the property. The buyer was assisted by IPA for the Chadwick Apartments transaction and Berkadia for the Ladera Apartments deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$611,079.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$815,367.75
Annual Debt Service$9,784,413.00
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