GID Acquires 357-Unit Multifamily In Tampa From Axonic Properties
18002 Richmond Place Drive
Building Size
428,111 SF
Asset Type
MultiFamily
Closing
Apr 26, 2024
AI
The multifamily property located at 18002 Richmond Place Drive in Tampa, spanning 428,111 square feet and comprising 357 units, was successfully transacted.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Buyer: GID
- Seller: Jonathan Shechtman, Brian Kennedy & Ben Platt - Axonic Properties
- Brokers: Jamie May & Eddie Yang - JBM Institutional Multifamily Advisors
The deal was facilitated by Jamie May and Eddie Yang from JBM Institutional Multifamily Advisors, representing the respective parties involved, GID as the buyer, and Jonathan Shechtman, Brian Kennedy, and Ben Platt of Axonic Properties as the sellers.
Players
Tampa 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93