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:
- Property Type: Student Housing
- Transaction Amount: Not Disclosed
- Address: 4460 South Macgregor Way
- Market: Houston
- Buyer: Axonic Properties
- Buyer Representatives: Jonathan Shechtman, Brian Kennedy, Ben Platt
- Seller: Fannie Mae
- Brokerage Firm: JLL
- Broker Representatives: Teddy Leatherman, Kevin Kazlow, Scott Clifton, Danielle Rice
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
Texas Student Housing Market Snapshot
Boundary boundary · Student Housing · 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