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Kaplan Residential Acquires 20-Acre Development Site In Englewood For $5.2M
SOLD
$5,200,000
Florida
See Similar DealsDevelopment Site
Sold 11/02/2023
SOLD
Kaplan Residential Acquires 20-Acre Development Site In Englewood For $5.2M
201 Pine Street
See Similar DealsDevelopment Site
Sold 11/02/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
Kaplan Residential has purchased a 20-acre site in Englewood, Florida, for $5.2 million. The development site is located at 201 Pine Street and is designated for the construction of Generation Englewood, a 306-unit apartment community.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,200,000
- Address: 201 Pine Street
- Market: Englewood
- Acreage: 20 acres
Generation Englewood will feature high-end amenities, elevators, and a prime location near Wellen Park and the Atlanta Braves spring training facility. The development is expected to attract a diverse mix of residents, capitalizing on the growing Englewood market.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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