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Amzak Station LLC Acquires 180-Unit Multifamily Property In Fleming Island For $51.3M

Property Image
SOLD
$51,300,000
Joe Ayers
Cliff Taylor

Florida

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MultiFamily
Sold 11/15/2022
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Property Image
SOLD

Amzak Station LLC Acquires 180-Unit Multifamily Property In Fleming Island For $51.3M

1757 Theodora Ln, Fleming Island, Florida 32003, United States

See Similar Deals
MultiFamily
Sold 11/15/2022
Joe Ayers
Cliff Taylor
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Amzak Station LLC has acquired a multifamily property located at 1757 Theodora Lane in Fleming Island. The property spans across 11.37 acres and consists of 180 units. The transaction was facilitated by CBRE brokers Cliff Taylor and Joe Ayers.

Summary of Transaction Details

  • Property Type: Multifamily
  • Sale Price: $51,300,000
  • Units: 180
  • Price per Unit (PPU): $285,000
  • Address: 1757 Theodora Lane
  • Market: Fleming Island
  • Buyer: Amzak Station LLC
  • Seller: Bristol Fleming Island Partners LLC
  • Brokers: Cliff Taylor & Joe Ayers - CBRE

The purchase of the property by Amzak Station LLC highlights their investment in the Fleming Island market. The transaction was successfully negotiated by the CBRE brokers, Cliff Taylor and Joe Ayers, representing both the buyer and seller in the deal.

Players

Cliff Taylor
CBRE
Cliff Taylor
13 deals$606.8M volume
BROKER
Joe Ayers
CBRE
Joe Ayers
14 deals$624.3M volume
BROKER

Details

SOLD
IMAGE: Joe Ayers & Cliff Taylor DATE: 11/15/2022 ADDRESS: 1757 Theodora Lane MARKET: Fleming Island ASSET TYPE: Multifamily ~ ACRES: 11.37 BUYER: Amzak Station LLC SELLER: Bristol Fleming Island Partners LLC BROKERS: Cliff Taylor & Joe Ayers - CBRE (@CBRE) SALE PRICE: $51,300,000 UNITS: 180 ~ PPU: $285,000

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

$2,736,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$182,258.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$243,188.17
Annual Debt Service$2,918,258.06