Versity Investments Acquires Celebration Multifamily For $74.5M With Brokers Shelton Granade, Jr. & Luke Wickham - IPA USA
SOLD
$74,500,000
Florida
See Similar DealsMultiFamily6,547 SF
Sold 06/01/2020
SOLD
Versity Investments Acquires Celebration Multifamily For $74.5M With Brokers Shelton Granade, Jr. & Luke Wickham - IPA USA
1688 Celebration Blvd, Celebration, FL, USA
See Similar DealsMultiFamily6,547 SF
Sold 06/01/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$11,379
Total Square Footage:6,547 SF
Transaction Type:Sale
On June 1, 2021, a multifamily property located at 1688 Celebration Blvd. in Celebration was sold for a total price of $74,500,000. The property consists of 306 units, with each unit valued at an average price of $243,464.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $74,500,000
- Address: 1688 Celebration Blvd.
- Market: Celebration
- Buyer: Versity Investments
- Seller: CGI+ Real Estate Investment Strategies - Gidi Cohen & Mark Cohen
- Brokers: Shelton Granade, Jr. & Luke Wickham - IPA USA
- Units: 306
- Price Per Unit: $243,464
Gidi Cohen and Mark Cohen, representing CGI+ Real Estate Investment Strategies, sold the property to Versity Investments. The transaction was facilitated by brokers Shelton Granade, Jr. and Luke Wickham from IPA USA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$264,682.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$353,168.01
Annual Debt Service$4,238,016.10
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