Kushner Cos. Acquires Multifamily Property In Hoover, AL For $67.1M
SOLD
$67,100,000
+ 2
Alabama
See Similar DealsMultiFamily
Sold 11/09/2021
SOLD
Kushner Cos. Acquires Multifamily Property In Hoover, AL For $67.1M
River Haven Circle, Hoover, Alabama 35244, United States
See Similar DealsMultiFamily
Sold 11/09/2021
+ 2
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 200 River Haven Cir in Hoover, AL has been sold in a closed transaction. The property consists of 468 units and was sold for a total price of $67,100,000. This equates to an average price per unit of $143,376.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,100,000
- Address: 200 River Haven Cir, Hoover, AL
- Market: Hoover, AL
- Seller: ApexOne Investment Partners - Jim Hearn, Tim Burns & Ernest Johnson
- Buyer: Kushner Cos.
- Brokers: Jimmy Adams, Craig Hey & Andrew Brown - Cushman & Wakefield
The deal was facilitated by brokers Jimmy Adams, Craig Hey, and Andrew Brown from Cushman & Wakefield. The sellers, ApexOne Investment Partners, were represented by Jim Hearn, Tim Burns, and Ernest Johnson. Kushner Cos. acquired the property in this transaction.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,578,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$238,392.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$318,088.23
Annual Debt Service$3,817,058.79
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