Olson Capital Acquires The Flats At 9338 Multifamily In San Antonio
9338 Perrin Beitel Road
Building Size
—
Asset Type
MultiFamily
Closing
May 1, 2024
AI
The 88-unit multifamily property known as The Flats at 9338 in the Northeast San Antonio submarket was sold in a recent transaction. Situated on 3.17 acres at 9338 Perrin Beitel Road and built in 1974, the property offers convenient connectivity to major highways and employers in the area.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Buyer: Olson Capital
- Seller: Astoria Partners LLC
- Brokers: Brian Booth, Bryan VanCura, Kevin Garza, Moses Siller, Phillip Grafe, Zar Haro, Rudy Dodier - NorthMarq
Northmarq's San Antonio Multifamily Investment Sales team, led by Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe, Brian Booth, Rudy Dodier, and Kevin Garza, played a key role in brokering this transaction. The buyer, Olson Capital from Laguna Hills, California, added this acquisition to their diverse national holdings, showcasing a successful outcome achieved through collaborative efforts.
Players
San Antonio 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