REEP Equity Acquires 224-Unit Multifamily In Converse From Cohen-Esrey, Brokered By Matt Michelson
9205 Farm-to-Market 78, Converse, TX 78109
Building Size
—
Asset Type
MultiFamily
Closing
Dec 16, 2021
AI
An undisclosed multifamily property with 224 units located at 9205 FM 78 in Converse has been sold in a recent transaction. The deal was finalized on December 16, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 224
The buyer in this transaction was REEP Equity, represented by Arleen Garza. On the other hand, Cohen-Esrey acted as the seller in the deal. The brokerage services for this transaction were provided by Matt Michelson from Newmark.
Players
Converse 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