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
Richmond 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