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1002 Frankford Ave, Lubbock...

Centurion Property Group Acquires Student Housing In Lubbock With Buyer's Rep Noel Epelboim
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Centurion Property Group Acquires Student Housing In Lubbock With Buyer's Rep Noel Epelboim

1002 Frankford Ave, Lubbock, TX, USA

Building Size

3,858 SF

Asset Type

Other

Closing

Apr 5, 2021

AI

Centurion Property Group, represented by Noel Epelboim and Aldo Facchi R, has acquired a student housing property located at 1002 Frankford Ave in Lubbock. The transaction took place on April 6, 2021. The property consists of 243 units and is situated in the Lubbock market.

Summary of transation details

  • Property Type: Student Housing
  • Transaction Amount: Not specified
  • Address: 1002 Frankford Ave
  • Market: Lubbock
  • Units: 243

The buyer, Centurion Property Group, was represented by Noel Epelboim and Aldo Facchi R. The deal was facilitated by brokers Ryan Lang, Jack Brett, and Ben Harkrider from Newmark.

Players

Ryan Lang

Newmark

Broker

$182.9M

vol

10 deals

Broker

Noel Epelboim

Buyer

$29M

vol

2 deals

Buyer

Lubbock Other Market Snapshot

Boundary boundary · Other · 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