Updated Dec 4, 2024
The CONAM Group Acquires Arise Craig Ranch Multifamily In McKinney With Jack Cleary
7201 Custer Road
Units
270
Asset Type
MultiFamily
Closing
Oct 4, 2023
About this deal
AI
The CONAM Group, through their subsidiary CONAM Multifamily Partners Fund III, has acquired a Class A multi-family community in Texas known as Arise Craig Ranch. Located at 7201 South Custer Road in McKinney, the property consists of 270 units and is targeted towards diverse professional sectors with upscale amenities.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 270
- Buyer: The CONAM Group - Jack Cleary
- Market: McKinney
This acquisition represents CONAM's expansion in Texas, highlighting their focus on the multi-family market and their commitment to providing high-quality living spaces with desirable amenities. The deal was facilitated by Jack Cleary, the representative of The CONAM Group.
On the Map
MultiFamily
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Players
McKinney MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
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