M1 Properties LP Acquires Multifamily Property In Jacksonville For $37.75M
SOLD
$37,750,000
Florida
See Similar DealsMultiFamily
Sold 01/24/2022
SOLD
M1 Properties LP Acquires Multifamily Property In Jacksonville For $37.75M
11291 Harts Rd 100th, Jacksonville, Florida 32218, United States
See Similar DealsMultiFamily
Sold 01/24/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 11291 Hatrs Road in Jacksonville has been sold in a transaction valued at $37,750,000. The property consists of 288 units, resulting in a per unit price of $131,076. The sale took place on January 24, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,750,000
- Address: 11291 Hatrs Road, Jacksonville
The buyer of the property is M1 Properties LP, while the seller is Inman Equities. The deal was facilitated by brokers Nick Meoli and Mike Donaldson from Cushman & Wakefield.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$134,117.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$178,954.26
Annual Debt Service$2,147,451.11
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