Ashcroft Capital Managers LLC Acquires 416-Unit Multifamily In Tampa For $55.8M
2770 Roosevelt Blvd, Clearwater, FL 33760, USA
$55,800,000
$182/SF
Building Size
306,056 SF
Asset Type
MultiFamily
Closing
Aug 4, 2020
AI
Ashcroft Capital Managers LLC has acquired a multifamily property located at 2770 Roosevelt Boulevard in Tampa. The property, owned by Kimball Key LLC, was sold for a total of $55,800,000. With a total of 416 units, the price per unit (PPU) comes to $134,135.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $55,800,000
- Address: 2770 Roosevelt Boulevard, Tampa
- Market: Tampa
- Seller: Kimball Key LLC
- Buyer: Ashcroft Capital Managers LLC
- Brokers: Nick Meoli & Mike Donaldson - Cushman & Wakefield
- Units: 416
- PPU: $134,135
The deal was facilitated by brokers Nick Meoli and Mike Donaldson from Cushman & Wakefield, representing both the buyer and the seller in the transaction.
Players
Clearwater 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93