SOLDMultiFamily
Harbert Management Corp Acquires 1,824-Unit Multifamily Property In McKinney From Columbus Realty Partners
7149 Van Tuyl Parkway, McKinney, TX 75070, USA
Building Size
95,832,000 SF
Asset Type
MultiFamily
Closing
Oct 14, 2021
AI
The multifamily property located at 7149 Van Tuyl Pkwy in McKinney has been sold in a recent transaction. Spanning across 2,200 acres, this impressive property consists of 1,824 units, making it a substantial investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Acres: 2,200
- Units: 1,824
Harbert Management Corp has acquired the property from Columbus Realty Partners. The deal was facilitated by the team at CBRE, including brokers Danny Baker, Johnathan Makus, Nita Stewart, Chandler Sims, Kevin O'Boyle, and Mikey Bryant.
The mortgage for this transaction was arranged by Mike Bryant, Jon Wooton, and Kathryn Womble, also from CBRE.
Players
McKinney 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