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Oxford Properties & Preferred Apartment Communities Inc. Acquire $135.7M Multifamily Properties In Jacksonville & Winter Springs

Property Image
SOLD
$135,700,000
Tyler Nilsson
Erik Bjornson

Florida

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MultiFamily1,360 SF
Sold 12/15/2020
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Property Image
SOLD

Oxford Properties & Preferred Apartment Communities Inc. Acquire $135.7M Multifamily Properties In Jacksonville & Winter Springs

11390 Square Street, Jacksonville, FL, USA

See Similar Deals
MultiFamily1,360 SF
Sold 12/15/2020
Tyler Nilsson
Erik Bjornson
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$99,779
Total Square Footage:1,360 SF
Transaction Type:Sale

Oxford Properties and Preferred Apartment Communities Inc. have acquired a multifamily property located at 11390 Square Street and 151 Michael Blake Boulevard. The sale, facilitated by Catalyst Development Partners, took place on December 15, 2020. The property, consisting of 613 units, was sold for a total price of $135,700,000, resulting in a per unit price of $221,370. The transaction involved the brokers Erik Bjornson and Tyler Nilsson from Newmark.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $135,700,000
  • Units: 613
  • Price Per Unit: $221,370
  • Market: Jacksonville & Winter Springs

Erik Bjornson and Tyler Nilsson from Newmark represented the buyer and seller, respectively, in this transaction.

Players

Erik Bjornson
Institutional Property Advisors
Erik Bjornson
11 deals$644.9M volume
BROKER
Tyler Nilsson
Institutional Property Advisors
Tyler Nilsson
6 deals$401.7M volume(904) 672-1427
BROKER
Newmark
Newmark
BROKERAGE
Oxford Properties Group
Oxford Properties Group
BROKERAGE
Oxford Properties Group
Oxford Properties Group
BUYER
PI
Preferred Apartment Communities Inc.
BUYER
CP
Catalyst Development Partners
SELLER

Details

SOLD
IMAGE: Erik Bjornson, Joel Murphy, & Tyler Nilsson DATE: 12/15/2020 ADDRESS: 11390 Square Street & 151 Michael Blake Boulevard MARKET: Jacksonville & Winter Springs ASSET TYPE: Multifamily BUYER: Oxford Properties & Preferred Apartment Communities Inc. SELLER: Catalyst Development Partners BROKERS: Erik Bjornson & Tyler Nilsson - Newmark PRICE: $135,700,000 UNITS: 613 ~ PPU: $221,370

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

$7,237,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$482,113.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$643,287.23
Annual Debt Service$7,719,446.77