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4647 Harvest Corner Drive, ...

Aspen Oak Capital Partners Acquires 324-Unit Multifamily Property In Richmond
SOLDMultiFamily

Aspen Oak Capital Partners Acquires 324-Unit Multifamily Property In Richmond

4647 Harvest Corner Drive, Richmond, Texas 77406, United States

Building Size

Asset Type

MultiFamily

Closing

Jan 9, 2023

AI

The multifamily property located at 4647 Harvest Corner Drive in Richmond has been sold in a recent transaction. The property spans over 13 acres and consists of 324 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not disclosed
  • Market: Richmond
  • Units: 324
  • Acres: 13

Aspen Oak Capital Partners has acquired the property from Allied Orion Group. The deal was facilitated by Greg Austin, Jennifer Campbell, Travis Austin, Avery Klatt, and Will Balthrope, who represented Aspen Oak Capital Partners as brokers from Institutional Property Advisors.

Players

Will Balthrope

Institutional Property Advisors

Broker

$503.3M

vol

89 deals

Broker
AP
Aspen Oak Capital PartnersBuyer
AG
Allied Orion GroupSeller

Richmond 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