TerraCap Management Sells Bonita Springs Multifamily For $87.3M
SOLD
$87,250,000
Florida
See Similar DealsMultiFamily
Sold 12/16/2022
SOLD
TerraCap Management Sells Bonita Springs Multifamily For $87.3M
28790 Versol Drive
See Similar DealsMultiFamily
Sold 12/16/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 28790 Versol Drive in Bonita Springs has recently been sold for a total price of $87,250,000. Spanning over 27.35 acres, the property offers 240 units, making the price per unit approximately $363,542. The sale was finalized on December 16, 2022.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $87,250,000
- Address: 28790 Versol Drive, Bonita Springs
- Market: Bonita Springs
- Acres: 27.35
The seller of the property was TerraCap Management, a renowned name in the real estate industry. The transaction was facilitated by Jamie May, a representative from JBM® Institutional Multifamily Advisors, serving as the broker in the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,653,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$309,980.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$413,609.51
Annual Debt Service$4,963,314.15
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