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4460 S MacGregor Way Housto...

Axonic Properties Acquires Student Housing In Houston From Fannie Mae
SOLDStudent Housing

Axonic Properties Acquires Student Housing In Houston From Fannie Mae

4460 S MacGregor Way Houston, TX 77021, USA

Building Size

120,661 SF

Asset Type

Student Housing

Closing

Jun 1, 2023

AI

The property asset involved in the transaction is a student housing facility located at 4460 South Macgregor Way in Houston. The asset encompasses a significant space of 120,661 square feet. The transaction was executed between Axonic Properties and Fannie Mae.

Summary of transaction details:

The key individuals involved in the deal include Jonathan Shechtman, Brian Kennedy, and Ben Platt representing Axonic Properties as the buyers. The selling entity is Fannie Mae, with the transaction facilitated by JLL's broker representatives, including Teddy Leatherman, Kevin Kazlow, Scott Clifton, and Danielle Rice.

Players

Scott Clifton

JLL

Broker

$130.4M

vol

12 deals

Broker
Jonathan Shechtman

Jonathan Shechtman

Axonic Properties

Buyer

$503.1M

vol

17 deals

Buyer
Fannie Mae
Fannie MaeSeller
Fannie Mae
Fannie MaeLender

Texas Student Housing Market Snapshot

Boundary boundary · Student Housing · 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