Tailwind Group Acquires 542-Bed Sweetwater Student Housing For $46M
SOLD
$46,000,000
Florida
See Similar DealsSold 01/11/2022
SOLD
Tailwind Group Acquires 542-Bed Sweetwater Student Housing For $46M
737 Southwest 109th Avenue, Miami, FL 33174
See Similar DealsSold 01/11/2022
Summary
FLORIDA
Transaction Type:Sale
The student housing property located at 737 SW 109th Ave in Sweetwater has been sold for a total price of $46,000,000. The property consists of 149 units with a total of 542 beds. Each unit was sold at an average price of $308,725.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $46,000,000
- Address: 737 SW 109th Ave, Sweetwater
- Market: Sweetwater
- Number of Units: 149
- Total Beds: 542
The buyer of the property is Tailwind Group, represented by Kyle Smith, Reggie Reed, Michael Sather, and Landon Smith. The seller is Greystar, represented by Bob Faith.
Players
BUYER
BUYER
BUYER
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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