Peak Capital Partners Acquires Multifamily Property In Orange Park For $53M
SOLD
$53,000,000
Florida
See Similar DealsMultiFamily2,394 SF
Sold 12/14/2020
SOLD
Peak Capital Partners Acquires Multifamily Property In Orange Park For $53M
1863 Wells Road
See Similar DealsMultiFamily2,394 SF
Sold 12/14/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$22,138
Total Square Footage:2,394 SF
Transaction Type:Sale
Peak Capital Partners has completed the acquisition of a multifamily property located at 1863 Wells Road in Orange Park. The property consists of 358 units and was sold by American Landmark Apartments for a total price of $53,000,000. With a per unit price of $148,045, this transaction represents a significant investment in the local real estate market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Units: 358
- Price Per Unit: $148,045
- Buyer: Peak Capital Partners
- Seller: American Landmark Apartments
- Brokers: Brian Moulder, Dhaval Patel, & Bobby Gatling - Walker & Dunlop
This successful deal was facilitated by the brokers Brian Moulder, Dhaval Patel, and Bobby Gatling from Walker & Dunlop. Their expertise and negotiation skills were instrumental in bringing the buyer and seller together and finalizing the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$188,297.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,247.04
Annual Debt Service$3,014,964.47
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