SOLDOther
The Preiss Company Acquires Student Housing In Lubbock With Buyer's Rep John Preiss, Mortgage Brokers Newmark
2001 9th Street, Lubbock, TX, USA
Building Size
383,793 SF
Asset Type
Other
Closing
Nov 28, 2021
AI
The property involved in this closed transaction is a student housing asset located at 2001 9th Street in Lubbock. The property consists of 847 beds, catering specifically to student accommodation.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: Not Available
- Address: 2001 9th Street
- Market: Lubbock
- Buyer: The Preiss Company - John Preiss
- Mortgage Brokers: Ben Roelke & Ian Walker - Newmark
The buyer in this transaction is The Preiss Company, represented by John Preiss. The mortgage brokers involved in this deal are Ben Roelke and Ian Walker from Newmark.
Players
Lubbock Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
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