Investors Management Group (IMG) Acquires 200-unit Multifamily Property In Converse
7855 Kitty Hawk Road, Converse, TX 78109, USA
Building Size
39,104 SF
Asset Type
MultiFamily
Closing
Jun 29, 2020
AI
The property involved in this transaction is a multifamily asset located at 7855 Kitty Hawk Rd in the Converse market. The transaction took place on 06/29/2021, and it consists of 200 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified in the available information
- Address: 7855 Kitty Hawk Rd
- Market: Converse
- Units: 200
The buyer of this property is Investors Management Group (IMG), with Neil Schimmel representing the company in the transaction. The brokers involved in this deal are John Carr and Ben Fuller from Cushman & Wakefield.
Players
Converse 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