General Services Corp. Acquires Multifamily Property In Venice For $63.9M
SOLD
$63,900,000
Florida
See Similar DealsMultiFamily154,721 SF
Sold 02/23/2021
SOLD
General Services Corp. Acquires Multifamily Property In Venice For $63.9M
Treviso Grand Cir, Venice, FL 34275, USA
See Similar DealsMultiFamily154,721 SF
Sold 02/23/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$413
Total Square Footage:154,721 SF
Transaction Type:Sale
Located at 100 Treviso Grand Cir North in Venice, this multifamily property was recently sold in a closed transaction. The property consists of 272 units and was sold for a total price of $63,900,000, resulting in a per unit price of $234,926. The sale took place on February 23, 2021. The property was acquired by General Services Corp., while Jim Borris of Zilber Ltd. served as the seller. The transaction was facilitated by JLL.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $63,900,000
- Address: 100 Treviso Grand Cir North
- Market: Venice
- Units: 272
- Price Per Unit: $234,926
Jim Borris, representing Zilber Ltd., served as the seller in this transaction. General Services Corp. was the buyer. The sale was facilitated by JLL. No additional information was available regarding the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,408,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$227,023.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$302,918.60
Annual Debt Service$3,635,023.20
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