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5151 North President George...

Equity Partnership Holdings Acquires 154-Unit Firewheel Town Village In Garland From ClearWorth Capital
SOLDMultiFamily

Equity Partnership Holdings Acquires 154-Unit Firewheel Town Village In Garland From ClearWorth Capital

5151 North President George Bush Highway

Building Size

Asset Type

MultiFamily

Closing

Oct 2, 2024

AI

The property asset involved in the transaction is a 154-unit active adult community located at 5151 N President George Bush Turnpike in Garland, Texas. Built in 2018, the multifamily property boasts an occupancy rate of 98% at the time of sale and includes various amenities suitable for active adult living.

Summary of transaction details:

The deal was executed with JLL representing ClearWorth Capital as the seller, indicating the brokerage's involvement in facilitating the transaction. Equity Partnership Holdings served as the buyer, highlighting the active interest in multifamily assets in the Garland market.

Players

Greg Toro

JLL

Broker

$33M

vol

3 deals

Broker

Garland 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