TerraCap Management Acquires 240-Unit Multifamily Property In Bonita Springs For $70.4M
SOLD
$70,400,000
Florida
See Similar DealsMultiFamily
Sold 06/03/2020
SOLD
TerraCap Management Acquires 240-Unit Multifamily Property In Bonita Springs For $70.4M
28790 Versol Dr, Bonita Springs, FL, USA
See Similar DealsMultiFamily
Sold 06/03/2020
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
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.
Players
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,754,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$250,116.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$333,731.92
Annual Debt Service$4,004,783.00
Is there something missing? Send suggestions