The Multifamily Group Completes Sale Of 72-Unit Lorenzo Apartments In San Antonio
427 Montrose Street
Building Size
—
Asset Type
MultiFamily
Closing
Dec 14, 2023
AI
The Multifamily Group, a Dallas-based brokerage firm, has successfully closed the sale of Lorenzo Apartments in San Antonio. The property, consisting of 72 units offering one- and two-bedroom options, sold within a short period of 30 days, demonstrating its resilience in a challenging market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 72
- Address: 427 Montrose Street, San Antonio
- Market: San Antonio
Jon Krebbs, a broker from The Multifamily Group, represented the seller in this transaction. Meanwhile, Christopher Siemasko secured the local owner/operator buyer for the Lorenzo Apartments.
Overall, the successful sale of the Lorenzo Apartments illustrates the expertise and effectiveness of The Multifamily Group in navigating challenging markets and closing deals in a timely manner.
Players
San Antonio 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