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Berkadia Brokers $56.8M Sale Of Richardson Multifamily Property To Berkshire Property Holdings

Property Image
SOLD
$56,800,000
William Jarnagin
Thomas (Tom) Burns
Taylor Hill
+ 3

Texas

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MultiFamily
Sold 09/10/2020
the dealplayerscompscontact
Property Image
SOLD

Berkadia Brokers $56.8M Sale Of Richardson Multifamily Property To Berkshire Property Holdings

9900 Walnut St, Dallas, TX 75243, USA

See Similar Deals
MultiFamily
Sold 09/10/2020
William Jarnagin
Thomas (Tom) Burns
Taylor Hill
+ 3
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 9900 – 10000 Walnut Street in Richardson was recently sold for a total price of $56,800,000. The property consists of 568 units, with a price per unit of $100,000. This transaction took place on September 10, 2020. Berkshire Property Holdings, represented by Zamir Kazi, served as the buyer for this deal.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $56,800,000
  • Units: 568
  • Price Per Unit: $100,000

The brokers involved in this transaction were William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns, and Michael Ware, all from Berkadia.

Players

Jay Gunn
Berkadia
Jay Gunn
3 deals$56.8M volume
BROKER
Michael Ware
Institutional Property Advisors
Michael Ware
62 deals$440M volume
BROKER
Taylor Hill
Institutional Property Advisors
Taylor Hill
63 deals$440M volume
BROKER
Thomas (Tom) Burns
Berkadia
Thomas Burns
3 deals$56.8M volume
BROKER
William Jarnagin
Berkadia
William Jarnagin
3 deals$56.8M volume
BROKER
ZK
Zamir Kazi
10 deals$622.8M volume
BUYER

Details

SOLD
IMAGE: IMAGE: William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns, & Michael Ware⁠ DATE: 09/10/2020⁠ ADDRESS: 9900 – 10000 Walnut Street⁠ MARKET: Richardson⁠ ASSET TYPE: Multifamily⁠ SALE PRICE: $56,800,000⁠ UNITS: 568⁠ PPU: 100,000⁠ BUYER: Berkshire Property Holdings – Zamir Kazi⁠ BROKERS: William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns, & Michael Ware – Berkadia⁠ […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,029,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$201,798.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$269,260.98
Annual Debt Service$3,231,131.74