Updated Dec 4, 2024
Gary W. Rollins Acquires Oviedo On The Park Multifamily For $94.1M
234 East Mitchell Hammock Road
$94,100,000
Units
297
Asset Type
MultiFamily
Closing
Nov 17, 2023
About this deal
AI
The Ellington at Oviedo on the Park, a 297-unit apartment community in Seminole County, Florida, has been sold for $94.1 million. The property, located at 234 East Mitchell Hammock Road, is part of the Oviedo on the Park mixed-use development. It spans across 12 acres and features ground-floor retail spaces, including Jinya Ramen Bar and CFS Coffee.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $94,100,000
- Units: 297
- Price Per Unit: $316,835
- Address: 234 East Mitchell Hammock Road
- Market: Oviedo
- Buyer: Gary W. Rollins - Rollins Inc
- Seller: Brand Properties - Brand Morgan
- Brokers: Brian Moulder & Chris Chadbourne - Walker & Dunlop
Connected to Atlanta billionaire Gary W. Rollins, CEO of Rollins Inc, TRR Ellington Investor LLC acquired the Ellington at Oviedo on the Park apartment community.
On the Map
$94,100,000
MultiFamily
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Players
Oviedo 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93