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8802 Cinnamon Creek Drive, ...

Harbor Group International Acquires 828-Unit Multifamily Property In San Antonio
SOLDMultiFamily

Harbor Group International Acquires 828-Unit Multifamily Property In San Antonio

8802 Cinnamon Creek Drive, 10707 W. Interstate 10 &Amp; 1431 Cable Ranch Road

Building Size

Asset Type

MultiFamily

Closing

Feb 16, 2023

AI

The recently sold property at 8802 Cinnamon Creek Drive, 10707 W. Interstate 10 & 1431 Cable Ranch Road in San Antonio has caught the attention of real estate enthusiasts. With a total of 828 units, this multifamily asset offers a promising investment opportunity in the market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: N/A

In this deal, the buyer, Harbor Group International, acquired the property from Multifamily Acquisition Advisors & Blackhawk Property Holdings. The transaction was facilitated by the broker, Matt Michelson from Newmark. It is worth noting the involvement of mortgage brokers Henry Stimler, William Webe, Matt Mense, Ari Schwartzbard, and Daniel Sarsfield from Newmark.

Players

Matt Michelson

Newmark

Broker

27 deals

Broker
Harbor Group International
Harbor Group InternationalBuyer

Market 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