Updated Oct 29, 2024
SPI Advisory Acquires 240-Unit Multifamily Property In Denton
500 Interstate 35E, Denton, TX, USA
Building Size
1,256 SF
Asset Type
MultiFamily
Closing
Feb 18, 2021
About this deal
AI
The multifamily property located at 500 S, I-35E in Denton was recently sold in a closed transaction. The sale took place on February 19, 2021, and involved a total of 240 units. The property was sold by an undisclosed seller to SPI Advisory, a real estate investment firm.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: February 19, 2021
- Address: 500 S, I-35E, Denton
- Market: Denton
- Units: 240
The buyer was represented by a team of brokers from Institutional Property Advisors (IPA) - Marcus & Millichap. The brokers involved in the deal were Drew Kile, Joey Tumminello, Will Balthrope, Asher Hall, and Grant Raymond.
Players
Denton 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