Korea Investment & Securities Co. Acquires Student Housing In Austin For $XXM
2204 San Antonio St, Austin, TX 78705, Estados Unidos
Building Size
166,000 SF
Asset Type
Other
Closing
Nov 2, 2020
About this deal
AI
The sale of a student housing property in Austin has been completed. The property, located at 2204 San Antonio Street, consists of an 18-story high-rise building. It offers a total of 567 units, making it a significant investment opportunity in the market.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: Not disclosed
- Address: 2204 San Antonio Street
- Market: Austin
- Seller: Korea Investment & Securities Co., Ocean West, Tiger Alternative Investors, & Landmark Properties
The property was completed before the Fall 2020 semester and opened with an impressive occupancy rate of nearly 100%. This indicates strong demand for student housing in the area and bodes well for the property's future success. Unfortunately, no information is available regarding the sale price or any financing involved in the transaction.
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Austin Other Market Snapshot
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Deal FAQ
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