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
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