B3 Holdings Acquires Multifamily Assets In New Haven, Stratford, And Cumberland For $117M
SOLD
$117,000,000
Connecticut
See Similar DealsMultiFamily
Sold 11/04/2022
SOLD
B3 Holdings Acquires Multifamily Assets In New Haven, Stratford, And Cumberland For $117M
275 Winchester Avenue, New Haven, Connecticut 06511, United States
See Similar DealsMultiFamily
Sold 11/04/2022
Summary
CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 275 Winchester Avenue & 1111 Stratford; & 51 Front St, was recently sold in a transaction in New Haven, Stratford CT, and Cumberland, RI. The property was acquired by B3 Holdings from the seller, Brookfield Asset Management. The sale was facilitated by Victor Nolletti, Eric Pentore, and Wes Klockner of Institutional Property Advisors. The transaction closed on 11/04/2022 for a total sale price of $117,000,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $117,000,000
- Market: New Haven, Stratford CT, and Cumberland, RI
- Buyer: B3 Holdings
- Seller: Brookfield Asset Management
- Brokers: Victor Nolletti, Eric Pentore, and Wes Klockner - Institutional Property Advisors
The sale of this multifamily property highlights the successful collaboration between B3 Holdings and Brookfield Asset Management. The involvement of Victor Nolletti, Eric Pentore, and Wes Klockner from Institutional Property Advisors further strengthened the deal, ensuring a smooth and efficient transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$415,676.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$554,639.69
Annual Debt Service$6,655,676.29
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