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715 North Main Street

SPI Advisory Acquires 266-Unit Main Street Lofts In Mansfield From Realty Capital Residential
SOLDMultiFamily

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

Michael Becker

SPI Advisory

Buyer

7 deals

Buyer
RR
Realty Capital ResidentialSeller

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