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8120 Mainland Drive,San Ant...

Cottonwood Group & Texsun Holdings Acquire 240-unit Multifamily Property In San Antonio
SOLDMultiFamily

Cottonwood Group & Texsun Holdings Acquire 240-unit Multifamily Property In San Antonio

8120 Mainland Drive,San Antonio,Texas

Building Size

Asset Type

MultiFamily

Closing

Nov 23, 2022

AI

Jim Young, Matt Michelson, and Chase Easley of Newmark represented the buyer, Cottonwood Group and Texsun Holdings, in the acquisition of a multifamily property in San Antonio. The property, located at 8120 Mainland Drive, consists of 240 units and was sold on November 23, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified in the provided information
  • Address: 8120 Mainland Drive
  • Market: San Antonio
  • Units: 240

The buyer, Cottonwood Group and Texsun Holdings, enlisted the services of Jim Young, Matt Michelson, and Chase Easley from Newmark to facilitate the transaction.

Players

Matt Michelson

Newmark

Broker

27 deals

Broker
CG
Cottonwood GroupBuyer

San Antonio 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