Tides Equities Acquires Multifamily Property In Dallas For $40M
SOLD
$40,000,000
Texas
See Similar DealsMultiFamily209,380 SF
Sold 01/07/2022
SOLD
Tides Equities Acquires Multifamily Property In Dallas For $40M
8780 Park Lane, Dallas, TX 75231
See Similar DealsMultiFamily209,380 SF
Sold 01/07/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$191
Total Square Footage:209,380 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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