American Landmark Acquires Multifamily Property In Orlando For $49.75M
SOLD
$49,750,000
Florida
See Similar DealsMultiFamily1,015 SF
Sold 04/15/2021
SOLD
American Landmark Acquires Multifamily Property In Orlando For $49.75M
1801 S Kirkman Rd, Orlando, FL, USA
See Similar DealsMultiFamily1,015 SF
Sold 04/15/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$49,014
Total Square Footage:1,015 SF
Transaction Type:Sale
A multifamily property located at 1801 S Kirkman Rd in Orlando has been sold in a transaction worth $49,750,000. The property consists of 300 units, resulting in a per-unit price of $165,833. The sale took place on April 15, 2021, with American Landmark acquiring the property from White Eagle Property Group, represented by Jeff Weiskopf.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $49,750,000
- Address: 1801 S Kirkman Rd
- Market: Orlando
- Buyer: American Landmark
- Seller: White Eagle Property Group - Jeff Weiskopf
- Brokers: Shelton Granade, Luke Wickham & Justin Basquill - Institutional Property Advisors (IPA)
- Units: 300
- Price Per Unit: $165,833
The deal was facilitated by the brokers Shelton Granade, Luke Wickham, and Justin Basquill from Institutional Property Advisors (IPA). Their involvement helped in successfully closing the transaction for both the buyer and the seller.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,653,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$176,751.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$235,840.38
Annual Debt Service$2,830,084.58
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