DiversyFund Growth REIT Acquires Stuart Multifamily For $15.5M
SOLD
$15,500,000
Florida
See Similar DealsMultiFamily32,577 SF
Sold 01/28/2021
SOLD
DiversyFund Growth REIT Acquires Stuart Multifamily For $15.5M
201 Southwest Joan Jefferson Way, Stuart, FL, USA
See Similar DealsMultiFamily32,577 SF
Sold 01/28/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$475
Total Square Footage:32,577 SF
Transaction Type:Sale
The multifamily property located at 201 SW Joan Jefferson Way in Stuart was recently sold in a transaction that closed on January 28, 2021. The property spans an area of 1.6 acres and is part of the Stuart market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,500,000
- Address: 201 SW Joan Jefferson Way, Stuart
- Market: Stuart
- Acres: 1.6
The buyer in this transaction was DiversyFund Growth REIT, while the seller was New Urban Communities. The deal was facilitated by brokers Alexis Shapiro and Stephen Nostrand from @one.cre.
The transaction involved the sale of 49 units, with a price per unit (PPU) of $316,300.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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