Preserve Ventures LLC Acquires Multifamily Property In Windsor, CT For $63M
SOLD
$63,000,000
Connecticut
See Similar DealsMultiFamily387,248 SF
Sold 08/05/2020
SOLD
Preserve Ventures LLC Acquires Multifamily Property In Windsor, CT For $63M
100 Lexington St, Windsor, CT, USA
See Similar DealsMultiFamily387,248 SF
Sold 08/05/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$162
Total Square Footage:387,248 SF
Transaction Type:Sale
An institutional property located at 100 Lexington St in Windsor, CT has been sold for $63,000,000. The asset is a multifamily property consisting of 230 units spread across 12 acres. The sale price per unit is $273,913, while the price per acre is $5,250,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Units: 230
- Price per Unit (PPU): $273,913
- Acres: 12
- Price per Acre (PPA): $5,250,000
The seller, Eastpointe Great Pond Owner LLC, has transferred ownership to the buyer, Preserve Ventures LLC. The transaction was facilitated by the brokers Victor Nolletti, Eric Pentore, and Wes Klockner from Institutional Property Advisors (IPA).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$223,825.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,652.14
Annual Debt Service$3,583,825.69
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