facebook
Traded Co logo
Submit
Daily limit: 0/10

Jack Bray And Matt Bray Of Richland Communities Acquire 4158 Acres Near Lake Wales For $50M

Property Image
SOLD
$50,000,000

Florida

See Similar Deals
Land
Sold 12/04/2024
the dealdetailscomps
Property Image
SOLD

Jack Bray And Matt Bray Of Richland Communities Acquire 4158 Acres Near Lake Wales For $50M

Land
Sold 12/04/2024
the dealdetailscomps

Summary

Asset Type:Land
Transaction Type:Sale

Richland Communities acquired 4,158 acres of land near the intersection of US 27 and S.R. 60 in Southeast Polk County for $50 million. The property is situated between downtown Tampa and Orlando, within the Lake Wales market.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $50,000,000
  • Buyer: Jack Bray & Matt Bray
  • Buyer’s Company: Richland Communities
  • Address: Intersection of US 27 & S.R. 60
  • Market: Lake Wales
  • Acres: 4,158

Jack Bray and Matt Bray represented Richland Communities in this transaction, facilitating the acquisition of the land to enhance the company's portfolio in the region.

Details

SOLD
IMAGE: Jack Bray & Matt Bray DATE: 12/04/2024 ADDRESS: Intersection of US 27 & S.R. 60 MARKET: Lake Wales ASSET TYPE: Land ~ ACRES: 4,158 BUYER: Jack Bray & Matt Bray - Richland Communities SALE PRICE: $50,000,000 NOTE: Richland Communities acquired 4,158 acres of land in Southeast Polk County near Lake Wales for $50 million. The property, located near the intersection of US 27 and S.R. 60, is situated between downtown Tampa and Orlando.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,666,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11