TA Realty Acquires Multifamily Property In Tampa For $157M
SOLD
$157,000,000
Florida
See Similar DealsMultiFamily220,669 SF
Sold 08/18/2020
SOLD
TA Realty Acquires Multifamily Property In Tampa For $157M
109 W Fortune St, Tampa, FL, USA
See Similar DealsMultiFamily220,669 SF
Sold 08/18/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$711
Total Square Footage:220,669 SF
Transaction Type:Sale
Located at 109 W Fortune St in Tampa, this multifamily property was recently sold in a closed transaction. The sale took place on August 18, 2021, and the property consists of 394 units. The sale price for this transaction was $157,000,000, resulting in an average price-per-unit of $398,477.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $157,000,000
- Address: 109 W Fortune St, Tampa
- Market: Tampa
Jim Buckingham of TA Realty acted as the buyer in the transaction, while Larry Connor represented the Connor Group as the seller. Both parties were instrumental in closing the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$557,787.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$744,260.10
Annual Debt Service$8,931,121.17
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