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Arch Companies Sells Multifamily Portfolio In Jacksonville, Winston-Salem, And Spartanburg For $200M

Property Image
SOLD
$200,000,000
Jeffrey Simpson
MM

Florida

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MultiFamily
Sold 02/28/2022
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Property Image
SOLD

Arch Companies Sells Multifamily Portfolio In Jacksonville, Winston-Salem, And Spartanburg For $200M

1591 Lane Avenue South

See Similar Deals
MultiFamily
Sold 02/28/2022
Jeffrey Simpson
MM
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Arch Companies has completed a multifamily property transaction with a total sale price of $200,000,000. The property, located at 1591 Lane Avenue South Midtown Oaks, 1706 Art Museum Drive, 3411 Old Vineyard Road, 1805 Franciscan Drive, 1010 Oak Grove Road, and 408 Abner Rd, consists of 1993 units, with a price-per-unit of $100,351. This transaction took place in Jacksonville, FL, Winston-Salem, NC, and Spartanburg, SC.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $200,000,000
  • Units: 1993
  • Price Per Unit: $100,351

The sale was facilitated by Arch Companies, with Jeffrey Simpson, Jared Chassen, Tristan Last, and Michelle Miller representing the seller in this deal.

Players

Jeffrey Simpson
Jeffrey Simpson
4 deals$311.4M volume
SELLER
AC
Arch Companies
SELLER
AC
Arch Companies
SELLER
MM
Michelle Miller
3 deals$289.7M volume
SELLER

Details

SOLD
IMAGE: Michelle Miller, Jared Chassen, Jeffrey Simpson & Tristan Last DATE: 02/28/2022 ADDRESS: 1591 Lane Avenue South Midtown Oaks, 1706 Art Museum Drive, 3411 Old Vineyard Road, 1805 Franciscan Drive, 1010 Oak Grove Road & 408 Abner Rd MARKET: Jacksonville FL, Winston-Salem, NC & Spartanburg, SC ASSET TYPE: Multifamily SELLER: Arch Companies (@ArchCompanies) - Jeffrey Simpson (@Jeff_s_Simpson), Jared Chassen (@JChassen1), Tristan Last & Michelle Miller SALE PRICE: $200,000,000 UNITS: 1993 - PPU: $100,351

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$710,557.75
Cash-on-Cash Return-1.27%
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