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715 North Main Street

Mike Becker, Sean Mabarak & Sean Callaway Of SPI Advisory Acquire 266-Unit Multifamily Property In Mansfield, TX
SOLDMultiFamily

Mike Becker, Sean Mabarak & Sean Callaway Of SPI Advisory Acquire 266-Unit Multifamily Property In Mansfield, TX

715 North Main Street

Building Size

Asset Type

MultiFamily

Closing

Dec 13, 2023

AI

The multifamily property located at 715 North Main Street in Mansfield, TX has been sold in a recent transaction. The property consists of 266 units and was part of a sale.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: N/A
  • Address: 715 North Main Street
  • Market: Mansfield, TX
  • Units: 266

The buyers of the property are Mike Becker, Sean Mabarak, and Sean Callaway from SPI Advisory. On the other side, the sellers include Richard Meyers, Tim Coltart, and Spencer Long from Realty Capital Residential, as well as Leo Peicher, David Lewin, and Ben Colonomos from PointOne Holdings.

Facilitating the deal were Grant Raymond, Asher Hall, Robert Stickel, and Alex Brown from Cushman & Wakefield acting as brokers.

Players

Grant Raymond

Cushman & Wakefield

Broker

$350M

vol

26 deals

Broker

Sean Mabarak

SPI Advisory

Buyer

3 deals

Buyer
SPI Advisory
SPI AdvisoryBuyer

Mansfield 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