ECI Group Acquires 273-Unit Bonita Springs Multifamily For $66.5M
SOLD
$66,500,000
Florida
See Similar DealsMultiFamily4,922 SF
Sold 06/14/2020
SOLD
ECI Group Acquires 273-Unit Bonita Springs Multifamily For $66.5M
10655 Founders Way, Ponte Vedra Beach, Florida, USA
See Similar DealsMultiFamily4,922 SF
Sold 06/14/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$13,510
Total Square Footage:4,922 SF
Transaction Type:Sale
The multifamily property located at 10655 Founders Way in Bonita Springs has been sold in a transaction worth $66,500,000. The property consists of 273 units, with an average price per unit of $243,590.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,500,000
- Units: 273
- Price per Unit (PPU): $243,590
- Market: Bonita Springs
The buyer of this property is ECI Group, represented by Scott Levitt. The seller is Mosaic Development, represented by Roxanne Amoroso and Terry Wayland.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$236,260.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$315,243.93
Annual Debt Service$3,782,927.12
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