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7203 North Grand Parkway We...

Thompson Thrift Residential Sells Multifamily Property In Spring, TX To An Undisclosed Buyer
SOLDMultiFamily

Thompson Thrift Residential Sells Multifamily Property In Spring, TX To An Undisclosed Buyer

7203 North Grand Parkway West, Spring, Texas 77375, United States

Building Size

Asset Type

MultiFamily

Closing

Mar 17, 2022

AI

The multifamily property located at 7203 North Grand Parkway West in Spring has been sold in a recent transaction. The property spans over 15.5 acres of land and consists of 336 units. This sale was facilitated by David Mitchell from Newmark.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 336
  • Acres: 15.5

Thompson Thrift Residential, represented by Josh Purvis, served as the seller in this transaction. Their decision to engage in this sale was likely prompted by various factors, but no further details have been provided.

David Mitchell, a broker from Newmark, was responsible for facilitating this transaction. As the buyer's representative, Mitchell played a key role in ensuring a smooth negotiation process and finalizing the deal.

Players

David Mitchell

Newmark

Broker

$150.3M

vol

10 deals

Broker

Josh Purvis

Thompson Thrift Residential

Seller

3 deals

Seller

Spring 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