Intercontinental Real Estate Corp. Acquires Multifamily Property In Sacramento For $87.5M
SOLD
$87,500,000
California
See Similar DealsMultiFamily253,984 SF
Sold 09/09/2021
SOLD
Intercontinental Real Estate Corp. Acquires Multifamily Property In Sacramento For $87.5M
40 Park City Court, Sacramento, CA, USA
See Similar DealsMultiFamily253,984 SF
Sold 09/09/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$344
Total Square Footage:253,984 SF
Transaction Type:Sale
Intercontinental Real Estate Corp., led by Peter Palandjian, has acquired a multifamily property located at 40 Park City Ct. in Sacramento. The sale, which took place on September 9, 2021, involved 244 units.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Price: $87,500,000
- Units: 244
- Price Per Unit (PPU): $358,606
The seller of the property was Heitman LLC. The sale of this multifamily asset signifies an important transaction in the vibrant Sacramento market.
Note: No additional information was provided regarding financing or any other details related to the transaction.
Players
SELLER
Details
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Deal Type
30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$310,869.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$414,794.64
Annual Debt Service$4,977,535.69
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