Zion Capital Acquires Austin Multifamily Portfolio For $43.7M
5800 Wellington Drive, Austin, Texas 78723, United States
$43,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 8, 2022
AI
The multifamily properties located at 5800 Wellington Dr, 6301 Berkman Dr, 6103 Manor Rd, 4520 Bennett Ave, and 918 E 40th Street in Austin have been sold for a total price of $43,700,000. The transaction took place on 08/09/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $43,700,000
- Units: 325
- Price Per Unit (PPU): $134,462
Zion Capital acquired the properties. Chase Johnson, representing Northmarq, served as the mortgage broker for the transaction.
Players
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93