Turnstone Capital Acquires Apartment In Colorado Springs For $11.3M
SOLD
$11,300,000
+ 1
Colorado
See Similar DealsMultiFamily60,858 SF
Sold 01/12/2022
SOLD
Turnstone Capital Acquires Apartment In Colorado Springs For $11.3M
2010 Carmel Drive, Colorado Springs, Colorado 80910, United States
See Similar DealsMultiFamily60,858 SF
Sold 01/12/2022
+ 1
Summary
COLORADO
Asset Type:MultiFamily
Price Per Square Foot:$185
Total Square Footage:60,858 SF
Transaction Type:Sale
An apartment located at 2010 Carmel Dr. in Colorado Springs, CO has been sold in a recent transaction. The property, owned by Draper Property Management, was purchased by Turnstone Capital for a sale price of $11,300,000.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $11,300,000
- Buyer: Turnstone Capital
- Seller: Draper Property Management
- Broker: Saul Levy, Kevin McKenna, Mackenzie Walker & Jessica Graham - CBRE
The transaction was facilitated by CBRE brokers Saul Levy, Kevin McKenna, Mackenzie Walker, and Jessica Graham. They represented both the buyer, Turnstone Capital, and the seller, Draper Property Management.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18
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