Updated Dec 4, 2024
Buchanan Street Partners Acquires Multifamily Property In Rowlett From Seller Catalyst Urban Development
4500 Southridge Drive, Rowlett, TX 75088, USA
Building Size
302,292 SF
Asset Type
MultiFamily
Closing
Jul 15, 2020
About this deal
AI
A multifamily property located at 4500 Southridge Dr in Rowlett has been sold. The transaction took place on July 15, 2021, and involved 249 units. Catalyst Urban Development served as the seller, while Buchanan Street Partners acted as the buyer.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
The deal was facilitated by the Institutional Property Advisors (IPA), with brokers Drew Kile, Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware, and Grant Raymond representing both the seller and the buyer.
Players
Rowlett 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