Angelo Gordon & Co. Acquires Homestead Multifamily For $50.7M
SOLD
$50,700,000
Florida
See Similar DealsMultiFamily9,196 SF
Sold 01/04/2021
SOLD
Angelo Gordon & Co. Acquires Homestead Multifamily For $50.7M
1140 Southeast 24th Road, Homestead, FL, USA
See Similar DealsMultiFamily9,196 SF
Sold 01/04/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$5,513
Total Square Footage:9,196 SF
Transaction Type:Sale
Located at 1140 Southeast 24th Road in Homestead, this multifamily property was recently sold in a transaction valued at $50,700,000. The property consists of 292 units, resulting in a price per unit (PPU) of $173,630.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,700,000
- Address: 1140 Southeast 24th Road, Homestead
- Market: Homestead
- Units: 292
- Price Per Unit (PPU): $173,630
The buyer in this transaction was Angelo Gordon & Co., represented by Kirk Wickman. On the selling side, Fifteen Group, represented by David Hopkins, closed the deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,704,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$180,126.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$240,343.87
Annual Debt Service$2,884,126.39
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