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1501 Northpoint Lane, Colle...

Woodridge Capital, Ares Management Corporation, & Timberline Real Estate Ventures Sell Student Housing In College Station
SOLDOther

Woodridge Capital, Ares Management Corporation, & Timberline Real Estate Ventures Sell Student Housing In College Station

1501 Northpoint Lane, College Station, TX, USA

Building Size

53,830 SF

Asset Type

Other

Closing

Dec 22, 2020

AI

Woodridge Capital, Ares Management Corporation, and Timberline Real Estate Ventures have sold a student housing property located at 1501 Northpoint Lane in College Station. The transaction took place on December 23, 2020. The property consists of 627 units and is situated in the College Station market.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: Not available
  • Address: 1501 Northpoint Lane, College Station
  • Market: College Station
  • Units: 627

The sale of this student housing property was facilitated by Ryan Lang and Jack Brett of Newmark, representing the sellers Woodridge Capital, Ares Management Corporation, and Timberline Real Estate Ventures.

Players

Ryan Lang

Newmark

Broker

$182.9M

vol

10 deals

Broker
Ares Management
Ares Management Seller
Ares Management
Ares Management Lender

College Station 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