Connor Group Acquires 436-Unit Multifamily Asset In Clearwater For $93.25M
SOLD
$93,250,000
Florida
See Similar DealsMultiFamily1,450 SF
Sold 01/08/2021
SOLD
Connor Group Acquires 436-Unit Multifamily Asset In Clearwater For $93.25M
2729 Seville Boulevard, Clearwater, FL, USA
See Similar DealsMultiFamily1,450 SF
Sold 01/08/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$64,310
Total Square Footage:1,450 SF
Transaction Type:Sale
The multifamily property located at 2729 Seville Boulevard in Clearwater was recently sold for a total price of $93,250,000. The transaction took place on 01/08/2021. The property consists of 436 units, with an average price per unit (PPU) of $213,876.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $93,250,000
- Units: 436
- Average Price per Unit (PPU): $213,876
The buyer in this transaction was the Connor Group, represented by Jeff Pickett. The Connor Group is a prominent agency in the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$331,297.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$442,052.57
Annual Debt Service$5,304,630.89
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