Updated Dec 29, 2025
Richard Price Of Mesirow Financial Acquires 450-Unit Multifamily Community In Plano From Bob Flannery
9600 Coit Road
Units
450
Asset Type
MultiFamily
Closing
Dec 17, 2025
About this deal
AI
The asset involved in this transaction is a multifamily community located at 9600 Coit Road, Plano, Texas, consisting of 450 units spread across 24 acres. The property was built between 2007 and 2009 and offers one- to three-bedroom units along with extensive amenities, reflecting the ongoing multifamily activity in the Dallas-Fort Worth market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $77M
- Buyer: Richard Price - Mesirow Financial
- Seller: Bob Flannery - Banner Real Estate Group
- Lender: Fannie Mae
- Mortgage Broker: Walker & Dunlop
Richard Price of Mesirow Financial led the acquisition of the property from Bob Flannery, representing Banner Real Estate Group. The deal was financed through a Fannie Mae loan, which was arranged by Walker & Dunlop, highlighting their involvement in facilitating the transaction.
On the Map
MultiFamily
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Plano MultiFamily Market Snapshot
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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