SPI Advisory Acquires 266-Unit Main Street Lofts In Mansfield From Realty Capital Residential
715 North Main Street
Building Size
—
Asset Type
MultiFamily
Closing
Dec 19, 2023
AI
SPI Advisory has acquired the 266-unit Main Street Lofts in Mansfield, Texas, from Realty Capital Residential. The property, located at 715 North Main Street, was built last year and features various unit sizes. Amenities at Main Street Lofts include a pool and fitness center.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 266
- Buyer: SPI Advisory - Michael Becker
- Seller: Realty Capital Residential - Alexander Brown
- Broker: Cushman & Wakefield
SPI Advisory, represented by Michael Becker, purchased the Main Street Lofts from Realty Capital Residential, represented by Alexander Brown, in a deal facilitated by Cushman & Wakefield.
Players
Mansfield 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