Tides Equities Acquires Multifamily Portfolio In Dallas For $217.5M
SOLD
$217,500,000
Texas
See Similar DealsMultiFamily
Sold 06/01/2020
SOLD
Tides Equities Acquires Multifamily Portfolio In Dallas For $217.5M
8359 Harwood Road
See Similar DealsMultiFamily
Sold 06/01/2020
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 8359 Harwood Road North Richland Hills, 700 E. Ash Ln. Euless, 620 W. Westchester Pkwy. Grand Prairie & 621 Cowboys Pkwy. Irving in Dallas, TX has been sold in a transaction involving Tides Equities, Norstar, and Northmarq. The sale price for the property was $217,500,000 with a total of 1,263 units. This amounts to a price per unit of $172,209.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $217,500,000
- Units: 1,263
- Price Per Unit: $172,209
- Buyer: Tides Equities (@TidesEquities)
- Seller: Norstar
- Brokers: Northmarq
Tides Equities, represented by Kia Sean and Ryan Andrade, acquired the property from Norstar. The transaction was facilitated by Northmarq.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,599,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$772,731.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,031,060.96
Annual Debt Service$12,372,731.56
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