Updated Oct 28, 2024
Abacus Capital Group Acquires Multifamily Property In Tampa From American Landmark Apartments For $60M
11500 N Dale Mabry Hwy, Tampa, FL, USA
$60,000,000
$91/SF
Building Size
654,271 SF
Asset Type
MultiFamily
Closing
Dec 7, 2021
About this deal
AI
11500 N. Dale Mabry in Tampa was recently sold for $60,000,000. The property is a multifamily asset comprised of 264 units, which translates to a price per unit of $227,273.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $60,000,000
- Number of Units: 264
- Price Per Unit: $227,273
The buyer of the property was Abacus Capital Group, with Benjamin Friedman representing the company in the deal. On the other hand, the seller was American Landmark Apartments. The brokerage services for this transaction were provided by Newmark. Additionally, JLL acted as the mortgage broker.
Players
Tampa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93