Ashcroft Capital Managers LLC Acquires 416-Unit Multifamily In Tampa For $55.8M
SOLD
$55,800,000
Florida
See Similar DealsMultiFamily306,056 SF
Sold 08/04/2020
SOLD
Ashcroft Capital Managers LLC Acquires 416-Unit Multifamily In Tampa For $55.8M
2770 Roosevelt Blvd, Clearwater, FL 33760, USA
See Similar DealsMultiFamily306,056 SF
Sold 08/04/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$182
Total Square Footage:306,056 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,976,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$198,245.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$264,520.47
Annual Debt Service$3,174,245.61
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