Updated Oct 29, 2024
Passco Cos. Acquires Multifamily Asset In Land O' Lakes For $76.4M
2300 Tapestry Park Drive, Land O' Lakes, FL, USA & 2300 Tapestry Park Drive, Land O' Lakes, FL, USA
$76,400,000
$110/SF
Building Size
346,571 SF
Asset Type
MultiFamily
Closing
Nov 9, 2020
About this deal
AI
The multifamily property located at 2300 Tapestry Park Drive in Land O' Lakes has been sold for a total price of $76,400,000. The property consists of 341 units with an average price per unit of $224,047.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,400,000
- Address: 2300 Tapestry Park Drive
- Market: Land O' Lakes
- Units: 341
- Price per Unit (PPU): $224,047
The buyer of the property is Passco Cos. while the seller is Arlington Properties. The deal was facilitated by Patrick Dufour, Ryan Crowley, Andrew Visnick, and Pibu Aulakh from Newmark.
Players
Land O Lakes MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93