Updated Oct 29, 2024
SPI Advisory Acquires 316-Unit Multifamily Property On Ashbury Street, North Richland Hills
6100 Ashbury Street, North Richland Hills, TX, USA
Building Size
1,131 SF
Asset Type
MultiFamily
Closing
Dec 13, 2020
About this deal
AI
The multifamily property located at 6100 Ashbury Street in North Richland Hills has been sold. The transaction took place on December 14, 2020. The property consists of 316 units and is a part of the North Richland Hills market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Seller: DLC Residential
- Buyer: SPI Advisory
- Brokers: Will Balthrope, Joey Tumminello, & Grant Raymond - Institutional Property Advisors - Marcus & Millichap
The transaction involved DLC Residential as the seller and SPI Advisory as the buyer. The brokerage team representing the deal included Will Balthrope, Joey Tumminello, and Grant Raymond from Institutional Property Advisors, which is part of Marcus & Millichap.
Players
North Richland Hills 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