Richard Kulick Of Beacon Real Estate Group Acquires 264-Unit Community In Davenport For $58.1M

A multifamily asset located at 1005 Keymar Drive in Davenport features a total of 264 units, spread across 18 acres. The property, constructed in 2023 by OneEleven Residential, was sold for $58,100,000. Amenities include a saltwater pool, clubhouse, coworking spaces, and facilities for pets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $58,100,000
• Acres: 18
• Units: 264
• Price Per Unit: $220,076
• Buyer: Richard Kulick - Beacon Real Estate Group; Rodrigo Conesa & Gerardo Mahuad - Eagle Property Capital Investments; Fernando Chico Pardo - Promecap
• Seller: John Zeledon & Erik Halverson - OneEleven Residential
• Loan Amount: $49,000,000 from Bridge Investment Group

The deal involved multiple investors; Richard Kulick represented Beacon Real Estate Group, while Rodrigo Conesa and Gerardo Mahuad represented Eagle Property Capital Investments. Additionally, Fernando Chico Pardo was involved as part of Promecap. The sellers, John Zeledon and Erik Halverson, represented OneEleven Residential in this transaction.