Arcan Capital Acquires 414-Unit Multifamily In Birmingham For $71.4M
2000 Colony Park Drive, Birmingham, Alabama 35243, United States
$71,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 5, 2022
AI
The multifamily property located at 2000 Colony Park Dr in Birmingham, AL has been sold. The transaction took place between the buyer, Arcan Capital, and the seller, Forum Investment Group. The property consists of 414 units, with a sale price of $71,400,000, resulting in a price per unit of $172,464.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,400,000
The deal was facilitated by Andrew Brown and Craig Hey of Cushman & Wakefield, who represented both parties in the transaction.
Players
Birmingham MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93