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480 Commons Drive

Thane Partners Acquires Multifamily Property At 480 Commons Drive From Corsair Ventures
SOLDMultiFamily

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

Grant Raymond

Cushman & Wakefield

Broker

$350M

vol

26 deals

Broker

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