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BSR REIT Acquires Multifamily Property In Austin For $55M

Property Image
SOLD
$55,000,000

Texas

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MultiFamily598,340 SF
Sold 03/15/2020
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Property Image
SOLD

BSR REIT Acquires Multifamily Property In Austin For $55M

4700 Cromwell Drive, Kyle, TX 78640

See Similar Deals
MultiFamily598,340 SF
Sold 03/15/2020
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$91
Total Square Footage:598,340 SF
Transaction Type:Sale

The multifamily property located at 4700 Cromwell Dr. in Austin was recently sold for $55,000,000. The transaction took place on 03/15/20 and was facilitated by John S. Bailey. The property is situated in the Kyle market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $55,000,000
  • Address: 4700 Cromwell Dr.
  • City: Austin
  • Market: Kyle

The buyer of the property was BSR REIT represented by John S. Bailey.

Players

JB
John S. Bailey
3 deals$192.8M volume
BUYER

Details

SOLD
IMAGE: John S. Bailey⁠ DATE: 03/15/20⁠ ADDRESS: 4700 Cromwell Dr.⁠ CITY: Austin⁠ MARKET: Kyle⁠ ASSET TYPE: Multifamily⁠ BUYER: BSR REIT - John S. Bailey⁠ PRICE: $55,000,000⁠

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,933,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72