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9900 McNeil Drive, Austin, ...

CenterSquare & American Landmark Sell 350-unit Multifamily In Austin To Institutional Property Advisors (IPA) - Marcus & Millichap
SOLDMultiFamily

CenterSquare & American Landmark Sell 350-unit Multifamily In Austin To Institutional Property Advisors (IPA) - Marcus & Millichap

9900 McNeil Drive, Austin, TX 78750

Building Size

349,740 SF

Asset Type

MultiFamily

Closing

Dec 8, 2021

AI

The multifamily property located at 9900 McNeil Dr in Austin has been sold. The property consists of 350 units and spans across 17.5 acres. The sale of this property was completed on 12/08/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not available
  • Address: 9900 McNeil Dr
  • Market: Austin
  • Units: 350
  • Acres: 17.5

The sellers in this transaction were CenterSquare and American Landmark. The sale was facilitated by Will Balthrope, Jordan Featherston, and Kent Myers of Institutional Property Advisors (IPA), a division of Marcus & Millichap.

Players

Jordan Featherston

Institutional Property Advisors

Broker

$350M

vol

11 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage
American Landmark Apartments
American Landmark ApartmentsSeller

Austin 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