Updated Oct 28, 2024
Treeline Multifamily Partners Acquires 352-Unit Multifamily Property In East Austin
720 Airport Boulevard, Austin, TX 78702
Building Size
2,280 SF
Asset Type
MultiFamily
Closing
Dec 17, 2021
About this deal
AI
A multifamily property located at 720 Airport Blvd in East Austin has been sold in a recent transaction. The property consists of 352 units and was sold by Ardent Residential and Monterrey & Delta Development. The transaction took place on 12/17/2021, with Treeline Multifamily Partners Ltd. as the buyer. The sale was facilitated by brokers Patton Jones and Andrew Dickson from Newmark. The total transaction amount and other financial details were not disclosed.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 352
- Address: 720 Airport Blvd
- Market: East Austin
In addition to the buyer and seller, the transaction involved Timothy Weldon from Newmark as the mortgage broker. Further details about the buyer, seller, and mortgage terms were not provided in the available information.
Players
Austin 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