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Aria Victoria Apartments LLC Purchases 240-Unit Multifamily In Victoria For $28.8 Million

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SOLD
$28,800,000

Texas

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Aria Victoria Apartments LLC Purchases 240-Unit Multifamily In Victoria For $28.8 Million

8311 Northeast Zac Lentz Parkway

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MultiFamily
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved a multi-family asset located at 8311 Zac Lentz Parkway in Victoria. The property comprises 240 units and was originally built in 2015, with a transaction price of $28,800,000, resulting in a price per unit of $120,000.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $28,800,000
  • Units: 240
  • Address: 8311 Zac Lentz Parkway
  • Market: Victoria
  • Price Per Unit: $120,000

The seller was represented by Brad Shaffer from Newmark, while the buyer of the property is Aria Victoria Apartments LLC. This transaction illustrates the involvement of significant brokerage expertise in the multi-family real estate market in South Texas.

Players

Brad Shaffer
Newmark
Brad Shaffer
3 deals$28.8M volume
BROKER

Details

SOLD
IMAGE: Brad Shaffer DATE: 01/28/2025 ADDRESS: 8311 Zac Lentz Parkway MARKET: Victoria ASSET TYPE: MultiFamily BUYER: Aria Victoria Apartments LLC BROKER: Brad Shaffer - Newmark (@Newmark) SALE PRICE: $28,800,000 UNITS: 240 ~ PPU: $120,000 NOTE: Newmark facilitated the $28.8 million sale of Aria Victoria, a 240-unit apartment complex in South Texas, built in 2015. Brad Shaffer represented the seller, with Aria Victoria Apartments LLC purchasing the property.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,536,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$102,320.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$136,526.69
Annual Debt Service$1,638,320.32