LYFE Properties Group & Skywood Properties Acquire Multifamily Portfolio In Gainesville For $89.5M
SOLD
$89,500,000
Florida
See Similar DealsMultiFamily
Sold 08/25/2022
SOLD
LYFE Properties Group & Skywood Properties Acquire Multifamily Portfolio In Gainesville For $89.5M
2001 Southwest 16th Street, Gainesville, Florida 32608, United States
See Similar DealsMultiFamily
Sold 08/25/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2001 SW 16th St, 3020 & 3230 SW Archer Road, 3643 SW 20th Ave & 3100 SW 35th Place in Gainesville has been sold for a price of $89,500,000. The property consists of 582 units, resulting in a price per unit of $153,780. The sale was completed on August 25, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $89,500,000
- Units: 582
- Price Per Unit: $153,780
The buyers in this transaction were LYFE Properties Group and Skywood Properties, while the sellers were Platform Management Group and Excelsa Properties. The deal was facilitated by brokers Nick Meoli and Mike Donaldson from Cushman & Wakefield.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$317,974.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$424,275.66
Annual Debt Service$5,091,307.93
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