Waypoint Real Estate Investments Acquires Daytona Beach Multifamily For $57.1M
SOLD
$57,100,000
Florida
See Similar DealsMultiFamily278,332 SF
Sold 12/06/2020
SOLD
Waypoint Real Estate Investments Acquires Daytona Beach Multifamily For $57.1M
Tomoka Town Center, Cornerstone Boulevard, Daytona Beach, FL, USA
See Similar DealsMultiFamily278,332 SF
Sold 12/06/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$205
Total Square Footage:278,332 SF
Transaction Type:Sale
The multifamily property located at 1317 Tomoka Town Center Drive in Daytona Beach has recently been sold. The sale was completed on 12/06/2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $57,100,000
- Address: 1317 Tomoka Town Center Drive
- Market: Daytona Beach
- Units: 276
- Price Per Unit (PPU): $206,884
Waypoint Real Estate Investments is the buyer of the property. The seller is Tomoka Pointe Housing. The sale was facilitated by Scott Ramey, Erik Bjornson, and Patrick Dufour from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,045,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$202,864.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$270,683.13
Annual Debt Service$3,248,197.57
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