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Triwest Development Acquires Multifamily Property In Winter Springs, FL From JSB Capital Group For $47.3M

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SOLD
$47,300,000

Florida

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MultiFamily
Sold 10/19/2022
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SOLD

Triwest Development Acquires Multifamily Property In Winter Springs, FL From JSB Capital Group For $47.3M

1020 Chatham Pines Circle

See Similar Deals
MultiFamily
Sold 10/19/2022
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Triwest Development has acquired a multifamily property located at 1020 Chatham Pines Cir in Winter Springs, FL. The transaction, facilitated by brokers Aaron Jungreis and Alan Soclof of Rosewood Realty, involved the sale of the property by JSB Capital Group for a total price of $47,300,000. The property consists of 208 units, with an average price per unit of $227,404.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $47,300,000
  • Address: 1020 Chatham Pines Cir, Winter Springs, FL
  • Market: Winter Springs, FL
  • Buyer: Triwest Development
  • Seller: JSB Capital Group
  • Brokers: Aaron Jungreis & Alan Soclof - Rosewood Realty
  • Units: 208
  • Price per Unit: $227,404

The successful acquisition of this multifamily property showcases Triwest Development's commitment to expanding its real estate portfolio. Collaborating with brokers Aaron Jungreis and Alan Soclof from Rosewood Realty, Triwest Development secured a lucrative deal with JSB Capital Group. This transaction highlights the expertise and negotiation skills of both parties involved.

Players

Aaron Jungreis
202 deals$4.3B volume(212) 359-9900
BROKER

Alan Soclof
Rosewood Realty Group
5 deals$147.7M volume
BROKER

SELLER

Details

SOLD
IMAGE: Aaron Jungreis & Alan Soclof DATE: 10/20/2022 ADDRESS: 1020 Chatham Pines Cir MARKET: Winter Springs, FL ASSET TYPE: Multifamily BUYER: Triwest Development (@TriwestDev) SELLER: JSB Capital Group BROKERS: Aaron Jungreis (@AaronJungreis) & Alan Soclof (@AlanSoclof) - Rosewood Realty (@RosewoodRG) SALE PRICE: $47,300,000 UNITS: 208 ~ PPU: $227,404

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,522,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$168,046.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$224,226.13
Annual Debt Service$2,690,713.58