facebook
Traded Co logo
Submit

Air Communities Acquires Edgewater Multifamily For $211M

Property Image
SOLD
$211,000,000

Florida

See Similar Deals
MultiFamily
Sold 06/08/2022
the dealplayerscompscontact
Property Image
SOLD

Air Communities Acquires Edgewater Multifamily For $211M

2150 North Bayshore Drive, Miami, Florida, United States

See Similar Deals
MultiFamily
Sold 06/08/2022
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Located at 2150 North Bayshore Drive in Edgewater, this multifamily property spans over 2 acres. The transaction took place on 06/08/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $211,000,000
  • Address: 2150 North Bayshore Drive
  • Market: Edgewater
  • Size: 2 acres

Air Communities, represented by Terry Considine, acquired the property from Mill Creek Residential, represented by William MacDonald. The sale included 296 units, resulting in a purchase price per unit of $712,838.

Players

Terry Considine
Terry Considine
6 deals$1.5B volume
BUYER
Mill Creek Residential
Mill Creek Residential
SELLER

Details

SOLD
IMAGE: Terry Considine & William MacDonald DATE: 06/08/2022 ADDRESS: 2150 North Bayshore Drive MARKET: Edgewater ASSET TYPE: Multifamily ~ ACRES: 2 BUYER: Air Communities (@AirCommunities) - Terry Considine SELLER: Mill Creek Residential (@MillCreekResidential) - William MacDonald SALE PRICE: $211,000,000 UNITS: 296 ~ PPU: $712,838

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$11,253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$749,638.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,000,247.65
Annual Debt Service$12,002,971.77