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Williams Portfolio 22 Inc Acquires 253-Unit Multifamily In Jacksonville For $82.5M

Property Image
SOLD
$82,500,000
Dhaval Patel
Brian Moulder
Bobby Gatling

Florida

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MultiFamily
Sold 08/06/2020
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Property Image
SOLD

Williams Portfolio 22 Inc Acquires 253-Unit Multifamily In Jacksonville For $82.5M

13723 Atlantic Boulevard

See Similar Deals
MultiFamily
Sold 08/06/2020
Dhaval Patel
Brian Moulder
Bobby Gatling
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Located at 13723 Atlantic Blvd in Jacksonville, this multifamily property was recently sold in a closed transaction. The property, known as Terrabella Residences LLC, was purchased by Williams Portfolio 22 Inc for a price of $82,500,000. The property consists of 253 units, with an average price per unit of $326,087.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $82,500,000
  • Address: 13723 Atlantic Blvd
  • Market: Jacksonville
  • Buyer: Williams Portfolio 22 Inc
  • Seller: Terrabella Residences LLC
  • Brokers: Brian Moulder, Bobby Gatling & Dhaval Patel - Walker & Dunlop
  • Units: 253
  • Price per Unit: $326,087

The deal was facilitated by the brokers Brian Moulder, Bobby Gatling, and Dhaval Patel from Walker & Dunlop. Their expertise and negotiation skills played a crucial role in the successful completion of this transaction.

Players

Bobby Gatling
Walker & Dunlop
Bobby Gatling
9 deals$549.3M volume(904) 437-5251
BROKER
Brian Moulder
Walker & Dunlop
Brian Moulder
17 deals$1.3B volume(904) 718-8222
BROKER
Dhaval Patel
Dhaval Patel
10 deals$628.8M volume(407) 712-6651
BROKER
WE
Williams Equities
BUYER

Details

SOLD
IMAGE: Dhaval Patel, Brian Moulder & Bobby Gatling DATE: 08/06/2021 ADDRESS: 13723 Atlantic Blvd MARKET: Jacksonville ASSET TYPE: Multifamily BUYER: Williams Portfolio 22 Inc SELLER: Terrabella Residences LLC BROKERS: Brian Moulder, Bobby Gatling & Dhaval Patel - Walker & Dunlop SALE PRICE: $82,500,000 UNITS: 253 ~ PPU: $326,087

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,399,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$293,105.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$391,092.09
Annual Debt Service$4,693,105.07