Buchanan Street Partners Acquires Fort Worth Property With Brokers Jeffrey Kindorf And Joey Tumminello
701 N Hampton St, Fort Worth, TX, 76...
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
The property involved in this transaction is Jameson at the Bluffs, a 387-unit apartment community located at 701 N Hampton St, Fort Worth, TX. The development spans nine acres and was built in 2021, featuring an average unit size of 784 square feet. Amenities include a pool, clubhouse, rooftop lounge, arcade, and two dog parks, catering to the modern lifestyle of residents.
Summary of transaction details:
- Property Type: Apartment Community
- Transaction Amount: Not disclosed
- Address: 701 N Hampton St, Fort Worth, TX
- Market: Fort Worth
- Seller's Representative: Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware, and Jeffrey Kindorf - Institutional Property Advisors
- Brokers: Drew Kile - Institutional Property Advisors
- Buyer: Buchanan Street Partners
The transaction was negotiated by Drew Kile alongside the other representatives from Institutional Property Advisors, who managed the sale on behalf of the seller, StoneHawk Capital Partners. The collaborative effort of the team ensured a successful closing of this significant property deal in Fort Worth.
Players
Fort Worth 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93