Updated Oct 29, 2024
Lightbulb Capital Group Acquires Property In McKinney With Seller's Reps Drew Kile And Joey Tumminello
7920 Collin David S Dr, McKinney, TX...
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
About this deal
AI
The transaction involves a sale at 7920 Collin David S Dr, McKinney, TX. The property is located in the McKinney market. The seller, SWBC Real Estate, developed the property and has successfully completed the sale. The specifics regarding the transaction amount have not been disclosed.
Summary of transaction details:
- Property Type: Apartment Community
- Transaction Amount: Undisclosed
- Address: 7920 Collin David S Dr, McKinney, TX
- Seller's Representative: Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware & Taylor Hill - Institutional Property Advisors
- Buyer: Lightbulb Capital Group
- Market: McKinney
Lightbulb Capital Group is affiliated with Jay Schuminsky, based in Los Angeles. The brokerage firm Institutional Property Advisors, consisting of Will Balthrope, Drew Kile, Joey Tumminello, Michael Ware, and Taylor Hill, represented the seller in this transaction. Additional note: The Royalton at Rockwall Downes and Central Park at Craig Ranch, two other properties, were sold in separate but related transactions involving the same buyer.
Players
McKinney 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