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KRI Partners Purchases 130-Unit Multifamily Property In DeBary From MTK Developments For $24M
SOLD
$24,000,000
Florida
See Similar DealsMultiFamily
Sold 08/15/2025
SOLD
KRI Partners Purchases 130-Unit Multifamily Property In DeBary From MTK Developments For $24M
2841 Enterprise Road
See Similar DealsMultiFamily
Sold 08/15/2025
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The asset sold is a multifamily property located at 2841 Enterprise Road in Debary. The sale transaction amounted to $24,000,000 for the 130-unit build-to-rent community, which was built in 2023 and 98% leased at the time of sale.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Units: 130
- Price Per Unit: $184,615
- Buyer: Ken Gee - KRI Partners
- Seller: MTK Developments
- Brokers: Nick Meoli, Joey Blakley & Michael Donaldson - Cushman & Wakefield
- Transaction Date: 08/15/2025
KRI Partners acquired the property known as The Allure on Enterprise from MTK Developments. The transaction was facilitated by the brokerage team from Cushman & Wakefield, consisting of Nick Meoli, Joey Blakley, and Michael Donaldson, highlighting their role as representatives in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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