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
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