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6501 Independence Parkway, ...

Langdon Street Capital Acquires Multifamily Property In Plano With JLL Representing Both Buyer & Seller
SOLDMultiFamily

Langdon Street Capital Acquires Multifamily Property In Plano With JLL Representing Both Buyer & Seller

6501 Independence Parkway, Plano, Texas 75035, United States

Building Size

Asset Type

MultiFamily

Closing

Jun 12, 2022

AI

An apartment complex located at 6501 Independence Pkwy in Plano has been sold in a recent transaction. The multifamily property consists of 124 units. The sale took place on 12/06/2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 6501 Independence Pkwy, Plano
  • Market: Plano
  • Units: 124

The buyer in this transaction was Langdon Street Capital, represented by Matt Steinberg. The sale was facilitated by brokers Rob Key, Roberto Casas, Greg Toro, and David Austin from JLL.

Players

Greg Toro

JLL

Broker

$33M

vol

3 deals

Broker
LC
Langdon Street CapitalBuyer

Plano 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