Updated Oct 28, 2024
Thompson Thrift Residential Sells Multifamily Property In Spring, TX To An Undisclosed Buyer
7203 North Grand Parkway West, Spring, Texas 77375, United States
Units
336
Asset Type
MultiFamily
Closing
Mar 17, 2022
About this deal
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.
On the Map
MultiFamily
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Players
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