Updated Oct 29, 2024
Vantage Point Acquisitions Acquires Fort Walton Beach Multifamily For $49.8M
1500 Lewis Turner Blvd, Fort Walton Beach, FL, USA
$49,800,000
Units
252
Asset Type
MultiFamily
Closing
Mar 18, 2021
About this deal
AI
The multifamily property located at 1500 Lewis Turner Blvd, 1792 Lewis St, and 1493 W Ponderosa Rd in Fort Walton Beach has been sold in a recent transaction. The property consists of 252 units and is part of the multifamily asset category. The sale was completed on March 19, 2021, with a total transaction amount of $49,800,000, resulting in a per unit price of $197,619.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,800,000
- Units: 252
- Price per Unit: $197,619
- Market: Fort Walton Beach
The buyer of the property is Vantage Point Acquisitions, while the seller is Fisher Development LLC. The deal was facilitated by brokers David Etchison and Cole Whitaker from Berkadia. They represented their respective parties in the transaction.
Players
Fort Walton Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93