Gary Holloway Sr. And Chuck Leitner Acquire Student Housing In University Of Texas, Austin
2020 Nueces Street, Austin, TX, USA
Building Size
180,000 SF
Asset Type
Other
Closing
Nov 24, 2021
About this deal
AI
The recently closed property transaction involved the sale of a student housing asset located at 2020 Nueces St in the University of Texas, Austin market. The property spans approximately 180,000 square feet, catering to the needs of students in the area.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: Not specified
- Address: 2020 Nueces St
- Market: University of Texas, Austin
- Buyer: Gary Holloway Sr. - GMH Communities; Chuck Leitner - CBRE Investment Management
- Seller: David Pierce - Parallel Co.; Albert Rabil - Kayne Anderson Real Estate
- Broker: Austin Repetto - TSB Realty
In this transaction, the buyer consortium consisted of Gary Holloway Sr., representing GMH Communities, and Chuck Leitner, representing CBRE Investment Management. On the other side, the property was sold by David Pierce from Parallel Co. and Albert Rabil from Kayne Anderson Real Estate. Austin Repetto of TSB Realty served as the broker in this deal, representing the parties involved and facilitating the successful transaction.
Players
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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