Cores Management Acquires Multifamily Property In Orlando For $63.5M
SOLD
$63,500,000
+ 1
Florida
See Similar DealsMultiFamily510,959 SF
Sold 11/24/2021
SOLD
Cores Management Acquires Multifamily Property In Orlando For $63.5M
13000 Breaking Dawn Drive, Orlando, FL 32824, USA
See Similar DealsMultiFamily510,959 SF
Sold 11/24/2021
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$124
Total Square Footage:510,959 SF
Transaction Type:Sale
The multifamily property located at 13000 Breaking Dawn Dr in Orlando has been sold in a recent transaction. The property spans across 12 acres and consists of 234 units. The sale price for this transaction was $63,500,000, resulting in a price per unit of $271,368.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $63,500,000
- Address: 13000 Breaking Dawn Dr
- Market: Orlando
- Acres: 12
The buyer of the property was Cores Management, while the seller was Harbor Group International. The transaction was facilitated by brokers Shelton Granade, Sean Williams, Luke Wickham, and Justin Basquill, representing Institutional Property Advisors (IPA) of Marcus & Millichap.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,386,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$225,602.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$301,022.40
Annual Debt Service$3,612,268.75
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