Westdale Asset Management Acquires Dunedin Multifamily For $62.5M
SOLD
$62,500,000
Florida
See Similar DealsMultiFamily6,751,373 SF
Sold 02/27/2020
SOLD
Westdale Asset Management Acquires Dunedin Multifamily For $62.5M
2801 Dunedin Commons Place, Dunedin, FL, USA
See Similar DealsMultiFamily6,751,373 SF
Sold 02/27/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$9
Total Square Footage:6,751,373 SF
Transaction Type:Sale
Westdale Asset Management has acquired a multifamily property located at 2801 Dunedin Commons Place in the Dunedin market. The property consists of 280 units and was sold by Primerica Group One for a price of $62,500,000. This translates to a price per unit of $223,214.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $62,500,000
- Units: 280
- Price per Unit: $223,214
- Address: 2801 Dunedin Commons Place
- Market: Dunedin
The deal was facilitated by Jason Stanton, Cole Whitaker & Marc Sumner of Berkadia, representing both the buyer, Westdale Asset Management, and the seller, Primerica Group One.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$222,049.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$296,281.89
Annual Debt Service$3,555,382.63
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