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Middleburg Real Estate Acquires Multifamily Property In Orlando From Red Clay Development Partners For $100.5M

Property Image
SOLD
$100,500,000
Matt Mitchell
Tyler Swidler
Brett Moss
+ 1

Florida

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MultiFamily
Sold 07/18/2022
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Property Image
SOLD

Middleburg Real Estate Acquires Multifamily Property In Orlando From Red Clay Development Partners For $100.5M

1005 Champions Ridge Dr, Davenport, FL 33896

See Similar Deals
MultiFamily
Sold 07/18/2022
Matt Mitchell
Tyler Swidler
Brett Moss
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

Middleburg Real Estate has acquired a multifamily property located at 1005 Champions Ridge Drive in Orlando. The transaction, facilitated by Berkadia brokers Brett Moss, Tyler Swidler, Cole Whitaker, and Matt Mitchell, was completed on July 18, 2022. The seller of the property was Red Clay Development Partners.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $100,500,000
  • Number of Units: 300
  • Price per Unit: $335,000

The property at 1005 Champions Ridge Drive offers a prime investment opportunity in the Orlando market. With its impressive 300 units, this multifamily asset demonstrates Middleburg Real Estate's strategic move towards expanding their portfolio in Orlando. Red Clay Development Partners played a crucial role as the seller in this transaction, with Berkadia brokers Brett Moss, Tyler Swidler, Cole Whitaker, and Matt Mitchell representing their respective clients throughout the deal.

Players

Cole Whitaker
Berkadia
Cole Whitaker
17 deals$888.2M volume(407) 481-2126
BROKER
Brett Moss
Berkadia
Brett Moss
11 deals$912.8M volume
BROKER
Tyler Swidler
Berkadia
Tyler Swidler
10 deals$812.2M volume
BROKER
Matt Mitchell
Berkadia
Matt Mitchell
5 deals$515.5M volume
BROKER

Details

SOLD
IMAGE: Matt Mitchell, Tyler Swidler, Brett Moss & Cole Whitaker DATE: 07/18/2022 ADDRESS: 1005 Champions Ridge Drive MARKET: Orlando ASSET TYPE: Multifamily BUYER: Middleburg Real Estate (@MiddleburgRealEstate) SELLER: Red Clay Development Partners BROKERS: Brett Moss, Tyler Swidler (@TSwid10), Cole Whitaker & Matt Mitchell - Berkadia (@Berkadia) SALE PRICE: $100,500,000 UNITS: 300 ~ PPU: $335,000

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Net Operating Income (NOI)

$5,359,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$357,055.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$476,421.27
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