Ilan Investments Acquires 288-Unit Multifamily Property On Harmony Hills St. In Spring Branch From Vantage Communities
395 Harmony Hills St, Spring Branch, TX, USA
Building Size
1,151 SF
Asset Type
MultiFamily
Closing
Sep 2, 2021
AI
A multifamily property located at 395 Harmony Hills St. in Spring Branch has been sold in a recent transaction. The property consists of 288 units and was sold by Vantage Communities. The buyer, Ilan Investments, acquired the asset with the assistance of Institutional Property Advisors acting as the broker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not provided
- Date: 09/02/2021
- Address: 395 Harmony Hills St.
- Market: Spring Branch
- Units: 288
- Buyer: Ilan Investments
- Seller: Vantage Communities
- Broker: Institutional Property Advisors
The sale of this multifamily property demonstrates the ongoing activity and investment interest in Spring Branch. The involvement of Ilan Investments as the buyer and Vantage Communities as the seller signifies the confidence in the market potential of this asset. The transaction was facilitated by Institutional Property Advisors, who played a crucial role as brokers in representing the parties involved.
Players
Spring Branch MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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