Burlington Tower Apartments LP Acquires Senior Housing In St. Petersburg For $8.25M
1000 Burlington Avenue North, St. Petersburg, Florida 33705, United States
$8,250,000
Units
115
Asset Type
—
Closing
Dec 30, 2022
About this deal
AI
The senior housing property located at 1000 Burlington Ave. N in St. Petersburg has been sold for a transaction amount of $8,250,000. The property consists of 115 units, with an average price per unit of $71,739.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $8,250,000
- Address: 1000 Burlington Ave. N, St. Petersburg
- Market: St. Petersburg
- Buyer: Burlington Tower Apartments LP
- Seller: Suncoast Christian Housing - Sylvia Barr
- Units: 115
- Price per Unit: $71,739
Burlington Tower Apartments LP has acquired the senior housing property from Suncoast Christian Housing - Sylvia Barr. The sale marks a significant transaction within the St. Petersburg market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93