Updated Oct 28, 2024
KKR And RPM Living Investments Acquire Multifamily Property In Jacksonville Beach For $67.3M
1300 Shetter Avenue, Jacksonville Beach, FL 32250
$67,300,000
$260/SF
Building Size
257,906 SF
Asset Type
MultiFamily
Closing
Oct 26, 2021
About this deal
AI
The multifamily property located at 1300 Shetter Ave in Jacksonville Beach has been sold for a total price of $67,300,000. The property spans across 11.24 acres and consists of 228 units. This translates to a per unit price of $295,175.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,300,000
- Address: 1300 Shetter Ave
- Market: Jacksonville Beach
- Total Acres: 11.24
- Buyer: KKR - Michael Friedland; RPM Living Investments - Josh Kahn
- Seller: BR Beach House DST
- Broker: Brian Moulder - Walker & Dunlop
The buyers involved in this transaction include KKR represented by Michael Friedland, and RPM Living Investments represented by Josh Kahn. On the other hand, the seller is BR Beach House DST. Brian Moulder from Walker & Dunlop served as the broker.
Players
Jacksonville Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Walker & Dunlop to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93