PASSCO Companies LLC Acquires Property From Continental Properties Company Inc For $53.5 Million
SOLD
$53,500,000
Florida
See Similar Deals223,423 SF
SOLD
PASSCO Companies LLC Acquires Property From Continental Properties Company Inc For $53.5 Million
11221 Everblades Parkway, Estero, FL...
See Similar Deals223,423 SF
Summary
FLORIDA
Price Per Square Foot:$239
Total Square Footage:223,423 SF
Transaction Type:Sale
The property involved in this transaction is located at 11221 Everblades Parkway, Estero, FL, within the Estero market. The transaction was finalized for a price of $53,500,000.00 and encompasses a total square footage of 223423.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,500,000.00
- Seller: Continental Properties Company, Inc
- Buyer: PASSCO Companies, LLC
- Seller's Representative: Jonathan Barclay - JBM Institutional Multifamily Advisors
This transaction highlights the involvement of key players, with PASSCO Companies, LLC acquiring the property. The proceedings were facilitated by Jonathan Barclay representing the seller, Continental Properties Company, Inc, signifying a collaboration of notable entities within the real estate sector.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$190,074.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$253,617.29
Annual Debt Service$3,043,407.53
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