Investcorp Acquires 420-Unit Multifamily Property In Jacksonville From RangeWater Real Estate
SOLD
$72,750,000
Florida
See Similar DealsMultiFamily
Sold 12/21/2020
SOLD
Investcorp Acquires 420-Unit Multifamily Property In Jacksonville From RangeWater Real Estate
12310 Seacrest Lane
See Similar DealsMultiFamily
Sold 12/21/2020
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 12310 Seacrest Lane in Jacksonville has been sold. The transaction took place on 12/21/2020.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $72,750,000
- Address: 12310 Seacrest Lane, Jacksonville
- Market: Jacksonville
The buyer of the property was Investcorp, while the seller was RangeWater Real Estate. The deal was facilitated by the brokers Brian Moulder, Bobby Gatling, and Dhaval Patel, who represented both parties in the transaction. The brokerage involved in the deal was Walker & Dunlop.
The property consists of 420 units, with a price per unit (PPU) of $173,214.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$258,465.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$344,872.12
Annual Debt Service$4,138,465.38
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