Updated Dec 4, 2024
Equity Residential Acquires 324-Unit Multifamily Property In Grapevine From Greystar And Carlyle
4501 Texas Highway 360
Units
324
Asset Type
MultiFamily
Closing
Aug 5, 2024
About this deal
AI
The transaction involved a 324-unit multifamily property located at 4501 Texas Highway 360 in Grapevine, Texas. This asset was notable for its proximity to major employers and recreational amenities, enhancing its appeal in a market characterized by limited multifamily supply.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 324
- Buyer: Mark J. Parrell - Equity Residential
- Seller: Bob Faith - Greystar; Carlyle
- Brokers: Joey Tumminello, Michael Ware, Shelby Clark & Taylor Hill - Institutional Property Advisors
Institutional Property Advisors successfully facilitated the sale of Marlowe Grapevine, demonstrating strong leasing activity in the region and highlighting the demand for multifamily properties in that area.
On the Map
MultiFamily
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Players
Grapevine 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