Thane Partners Acquires Multifamily Property At 480 Commons Drive From Corsair Ventures
480 Commons Drive
Building Size
155,857 SF
Asset Type
MultiFamily
Closing
Nov 7, 2024
AI
The property involved in this transaction is a multifamily asset located at 480 Commons Drive in the Burleson market. The transaction reflects the interests of both the buyer and seller, although specific details such as square footage and price are not provided.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 480 Commons Drive
- Market: Burleson
- Buyer: Thane Partners - NewStreet Properties
- Seller: Corsair Ventures
- Broker Representatives: Grant Raymond & Asher Hall - Cushman & Wakefield
In this transaction, Thane Partners represented by NewStreet Properties acquired the asset from Corsair Ventures. The deal was facilitated by brokers Grant Raymond and Asher Hall from Cushman & Wakefield.
Players
Burleson 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