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9010 Galewood Drive

Updated Dec 4, 2024

Texas Housing Conservancy Acquires 64-Unit Multifamily Property From Zavala Capital Group In Austin
SOLDMultiFamily

Texas Housing Conservancy Acquires 64-Unit Multifamily Property From Zavala Capital Group In Austin

9010 Galewood Drive

Units

64

Asset Type

MultiFamily

Closing

Oct 21, 2024

About this deal

AI

The property involved in this transaction is a 64-unit multifamily apartment complex located at 9010 Galewood Drive in the Austin market. The complex, known as Cielo at North Domain, was originally built in 1973 and consists of eight two-story buildings. Primarily featuring one-bedroom units averaging 600 square feet, approximately half of the units have been recently upgraded.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not disclosed
  • Units: 64
  • Buyer: Texas Housing Conservancy
  • Seller: Zavala Capital Group
  • Brokerage: NorthMarq

The transaction was facilitated by brokers Hayden Schnieders, Jordan Vaughn, Scott LaMontagne, and Will Collier from NorthMarq. Their involvement played a key role in connecting the seller, Zavala Capital Group, with the buyer, Texas Housing Conservancy, with the deal focusing on the multifamily asset comprised of upgraded and original units.

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Players

Scott LaMontagne

NorthMarq

Broker

6 deals

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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

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