Updated Oct 29, 2024
Camber Property Group Acquires Oakland Heights Apartments For $23M In Manchester, CT
360 Oakland St Manchester, Ct 06042, Usa
$23,000,000
Units
106
Asset Type
MultiFamily
Closing
Aug 21, 2023
About this deal
AI
Camber Property Group has acquired Oakland Heights Apartments, a 106-unit affordable housing community in Manchester, Connecticut, for $23 million. The property is located at 360 Oakland Street and offers a total of 106 units. The purchase price equates to approximately $216,981 per unit.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $23,000,000
- Address: 360 Oakland Street, Manchester, CT
- Market: Manchester, CT
Alex Hernandez, Chuck Kohaut, Jason Blankfein, John Alascio, and TJ Sullivan from Cushman & Wakefield served as the mortgage brokers for the deal. Greystone provided the financing for the acquisition.
Players
Lake Orion MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93