Updated Oct 29, 2024
REEP Equity Acquires MultiFamily Property From Seller's Rep Matt Michelson In Converse
9205 Fm78, Converse, TX, 78109
Units
224
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Waterford Park is a 224-unit apartment community located at 9205 Fm78 in Converse, TX, 78109. Built in 2008, the property offers one-, two- and three-bedroom units along with amenities such as a pool, fitness center, coffee lounge, business center, and a dog park. At the time of the sale, Waterford Park was 96 percent occupied.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Undisclosed
- Market: Converse
- Seller's Representative: Matt Michelson (Newmark)
- Buyer: REEP Equity
Matt Michelson from Newmark represented the seller, Kansas City-based development and investment firm Cohen-Esrey, in the transaction. San Antonio-based REEP Equity was the purchaser of the asset for an undisclosed price.
On the Map
MultiFamily
View full map
Players
Converse MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas multifamily sales on Traded.
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