American Landmark Acquires Melbourne Multifamily For $36.9M
2395 Woodwind Trail, Melbourne, FL 32935, USA
$36,900,000
Units
208
Asset Type
MultiFamily
Closing
Dec 1, 2021
AI
Located at 2395 Woodwind Trail in Melbourne, this multifamily property was recently sold in a transaction facilitated by Institutional Property Advisors from Marcus & Millichap. The property consists of 208 units, with a sale price of $36,900,000, resulting in a per unit price of $177,404.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $36,900,000
- Units: 208
- Price Per Unit: $177,404
- Market: Melbourne
American Landmark Apartments acquired this property from BG Capital Management, represented by Jane G. Greenblatt. The successful transaction showcases the involvement of key professionals such as Institutional Property Advisors, who played a crucial role in facilitating the deal between the buyer and seller.
Players
Melbourne 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93