JT Capital Acquires Multifamily Property In Ocala For $70.6M From Seller ApexOne Investment Partners
SOLD
$70,600,000
Florida
See Similar DealsMultiFamily
Sold 08/09/2022
SOLD
JT Capital Acquires Multifamily Property In Ocala For $70.6M From Seller ApexOne Investment Partners
3001 Southwest 24th Avenue, Ocala, Florida 34471, United States
See Similar DealsMultiFamily
Sold 08/09/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 3001 SW 24th Ave. in Ocala, this multifamily property has recently been sold in a closed transaction. The sale took place on 08/09/2022 and was facilitated by Ken Delvillar of JLL. The property consists of 263 units and was sold for a total price of $70,600,000, which translates to approximately $268,411 per unit. Both buyer and seller in this transaction were JT Capital and ApexOne Investment Partners, respectively.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $70,600,000
- Units: 263
- Price per Unit (PPU): $268,411
- Date: 08/09/2022
- Market: Ocala
Assisting in this sale were mortgage brokers Melissa Marcolini Quinn and Lee Weaver of JLL Capital Markets. Their expertise played a crucial role in the successful completion of this transaction.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,765,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$250,826.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$334,680.02
Annual Debt Service$4,016,160.22
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