Castle Lanterra Properties Acquires Multifamily Property In Allen From Seller Sovereign Properties
729 Junction Drive, Allen, Texas 75013, United States
Building Size
7,314 SF
Asset Type
MultiFamily
Closing
Mar 23, 2022
AI
An apartment complex located at 729 Junction Drive in Allen has been sold. The multifamily property, consisting of 366 units, was sold in a recent transaction. The sale was completed on 03/24/2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: Not specified
- Units: 366
- Address: 729 Junction Drive, Allen
- Market: Allen
Castle Lanterra Properties (CLP) represented by Elie Rieder acted as the buyer in the transaction. The seller of the property was Sovereign Properties. Property Advisors served as the broker for the deal.
Players
Allen 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