REEP Equity Acquires 224-Unit Multifamily In Converse From Cohen-Esrey, Brokered By Matt Michelson
9205 Farm-to-Market 78, Converse, TX 78109
Units
224
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
Loading comparables…
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