RK Properties Acquires 296-Unit Multifamily Asset In Orlando For $66M
SOLD
$66,000,000
Florida
See Similar DealsMultiFamily272,126 SF
Sold 10/15/2020
SOLD
RK Properties Acquires 296-Unit Multifamily Asset In Orlando For $66M
13645 E Colonial Dr, Orlando, FL 32826, USA
See Similar DealsMultiFamily272,126 SF
Sold 10/15/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$242
Total Square Footage:272,126 SF
Transaction Type:Sale
The multifamily property located at 13645 East Colonial Drive in Orlando has been sold for a total price of $66,000,000. The transaction took place on 10/15/2020. The property consists of 296 units, with a price per unit (PPU) of $222,973.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Units: 296
- Price per Unit (PPU): $222,973
- Market: Orlando
The buyer in this transaction is RK Properties, while Catalyst Multifamily Management and The Carlyle Group are the sellers. The deal was facilitated by the brokers Scott Ramey, Erik Bjornson, and Patrick Dufour from NKF.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,520,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$234,484.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$312,873.67
Annual Debt Service$3,754,484.06
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