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7149 Van Tuyl Parkway, McKi...

Harbert Management Corp Acquires 1,824-Unit Multifamily Property In McKinney From Columbus Realty Partners
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

Danny Baker

CBRE

Broker

$55M

vol

3 deals

Broker
Harbert Management Corp
Harbert Management CorpBuyer

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