Updated Oct 29, 2024
Harbor Group International Acquires 828-Unit Multifamily Property In San Antonio
8802 Cinnamon Creek Drive, 10707 W. Interstate 10 &Amp; 1431 Cable Ranch Road
Units
828
Asset Type
MultiFamily
Closing
Feb 16, 2023
About this deal
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.
On the Map
MultiFamily
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Players
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