Updated Oct 28, 2024
TerraCap Management Acquires 240-Unit Multifamily Property In Bonita Springs For $70.4M
28790 Versol Dr, Bonita Springs, FL, USA
$70,400,000
Units
240
Asset Type
MultiFamily
Closing
Jun 3, 2020
About this deal
AI
Located at 28790 Versol Dr in Bonita Springs, this multifamily property was recently sold. The transaction took place on 06/03/2021, with a sale price of $70,400,000. The property consists of 240 units, resulting in a price per unit of $293,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $70,400,000
- Address: 28790 Versol Dr
- Market: Bonita Springs
- Buyer: TerraCap Management - Steve Hagenbuckle & Steve Good
- Seller: Milhaus
- Broker: Jamie May - JBM Institutional Multifamily Advisors
- Units: 240
- Price Per Unit: $293,333
The buyer in this transaction was TerraCap Management, represented by Steve Hagenbuckle and Steve Good. The seller was Milhaus. Handling the brokerage for the deal was Jamie May from JBM Institutional Multifamily Advisors.
On the Map
$70,400,000
MultiFamily
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Players
Bonita Springs MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93