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7920 Collin David S Dr, McK...

Updated Oct 29, 2024

Lightbulb Capital Group Acquires Property In McKinney With Seller's Reps Drew Kile And Joey Tumminello
SOLDMultiFamily

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:

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

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

82 deals

Broker
LG
Lightbulb Capital GroupBuyer

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

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