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:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 5151 N President George Bush Turnpike
- Market: Garland
- Units: 154
- Buyer: Equity Partnership Holdings
- Seller: ClearWorth Capital
- Brooks: Cole Murphy, David Austin, Greg Toro & Rob Key - JLL
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
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