BH Equities And PIA Residential Acquire Orange Park Multifamily For $33.4M
SOLD
$33,400,000
Florida
See Similar DealsMultiFamily7,501,400 SF
Sold 11/19/2020
SOLD
BH Equities And PIA Residential Acquire Orange Park Multifamily For $33.4M
114 Old Orange Park Road, Orange Park, FL 32073, USA
See Similar DealsMultiFamily7,501,400 SF
Sold 11/19/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$4
Total Square Footage:7,501,400 SF
Transaction Type:Sale
The multifamily property located at 114 Old Orange Park Road in Orange Park has been sold for a total price of $33,400,000. The transaction took place on November 19, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,400,000
- Units: 284
- Price per Unit (PPU): $117,606
The buyers of the property were BH Equities and PIA Residential, represented by Danny Kattan and Saul Levy. The sellers of the property were WRH Realty Services. The deal was facilitated by Erik Bjornson from Newmark Knight Frank.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,781,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$118,663.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$158,333.04
Annual Debt Service$1,899,996.48
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