Grand Peaks Properties Inc. Acquires Orlando Multifamily For $90M
SOLD
$90,000,000
Florida
See Similar DealsMultiFamily543,850 SF
Sold 03/07/2022
SOLD
Grand Peaks Properties Inc. Acquires Orlando Multifamily For $90M
13501 Meadow Creek Drive, Orlando, Florida 32821, United States
See Similar DealsMultiFamily543,850 SF
Sold 03/07/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$165
Total Square Footage:543,850 SF
Transaction Type:Sale
The sale of a multifamily property in Orlando has recently closed. The property, located at 13501 Meadow Creek Dr, spans across 34.6 acres. The transaction took place on 03/07/2022, and the buyer of the property is Grand Peaks Properties Inc., represented by Luke Simpson. The seller of the property is Walt Disney Parks & Resort. The deal was facilitated by CBRE, serving as the broker.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Address: 13501 Meadow Creek Dr
- Market: Orlando
- Buyer: Grand Peaks Properties Inc. - Luke Simpson
- Seller: Walt Disney Parks & Resort
- Broker: CBRE
The sale of this multifamily property consisted of a total of 468 units, resulting in a price per unit of $192,308. The transaction represents a significant investment in the Orlando real estate market, showcasing the demand for multifamily properties in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99
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