BSR Real Estate Investment Trust Sells Multifamily Property In Beaumont For $44M
SOLD
$44,000,000
Texas
See Similar DealsMultiFamily304,051 SF
Sold 12/15/2020
SOLD
BSR Real Estate Investment Trust Sells Multifamily Property In Beaumont For $44M
4215 North Major Drive, Beaumont, TX, USA
See Similar DealsMultiFamily304,051 SF
Sold 12/15/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$144
Total Square Footage:304,051 SF
Transaction Type:Sale
The multifamily property located at 4215 N. Major Drive in Beaumont has been sold for a total price of $44,000,000. The sale took place on December 15, 2020. The property consists of 360 units, resulting in a price per unit (PPU) of $122,222. The transaction was facilitated by John Bailey, representing BSR Real Estate Investment Trust as the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Units: 360
- Price per Unit (PPU): $122,222
- Address: 4215 N. Major Drive, Beaumont
- Market: Beaumont
John Bailey, representing BSR Real Estate Investment Trust, played a key role in the transaction as the seller's representative. Their expertise in the Beaumont market contributed to the successful sale at a significant price point.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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