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5659 Del Prado Dr, Tampa, F...

Updated Oct 29, 2024

River View Apartments LLC Acquires Property From Axonic Properties For $31 Million With Franklin Street Brokers
SOLD

River View Apartments LLC Acquires Property From Axonic Properties For $31 Million With Franklin Street Brokers

5659 Del Prado Dr, Tampa, FL, 33617

$31,000,000

Building Size

Asset Type

Closing

Nov 19, 2023

About this deal

AI

The property asset involved in this transaction is located at 5659 Del Prado Dr, Tampa, FL, 33617. The buyer, River View Apartments LLC, acquired the property for $31,000,000.00. The transaction was noted to have a square footage of 0, indicating a unique property characteristic within the Tampa market.

Summary of transaction details:

The transaction was facilitated by Kevin Kelleher and Darron Kattan, both of whom are affiliated with Franklin Street. This deal marks a significant interaction between River View Apartments LLC and Axonic Properties, indicating a collaborative effort by representatives in the market.

Players

Darron Kattan

Franklin Street

Broker

$376M

vol

15 deals

Broker
Axonic Properties
Axonic PropertiesSeller

Tampa CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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