Tides Equities Acquires Multifamily Property In Dallas For $40M
8780 Park Lane, Dallas, TX 75231
$40,000,000
$191/SF
Building Size
209,380 SF
Asset Type
MultiFamily
Closing
Jan 7, 2022
AI
Located at 8780 Park Lane in Dallas, this multifamily property spans across 7 acres. The transaction took place on January 7, 2022, with a sale price of $40,000,000. The property consists of 343 units, offering a per unit price of $116,618. The total square footage of the property is 209,380, translating to a price per square foot of $191.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 8780 Park Lane, Dallas
- Market: Dallas
- Acres: 7
- Buyer: Tides Equities - Ryan Andrade & Sean Kia
- Seller: Travertine North Park Investors
- Units: 343
- Price Per Unit: $116,618
- Square Footage: 209,380
- Price Per Square Foot: $191
Tides Equities, represented by Ryan Andrade & Sean Kia, acquired the property from Travertine North Park Investors. The transaction was finalized, marking a successful deal in the Dallas market.
Players
Dallas 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93