GID Acquires Multifamily Property In Plantation For $72.7M
SOLD
$72,700,000
Florida
See Similar DealsMultiFamily
Sold 01/06/2022
SOLD
GID Acquires Multifamily Property In Plantation For $72.7M
335 State Road 7, Plantation, Florida 33319, United States
See Similar DealsMultiFamily
Sold 01/06/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
GID has acquired a multifamily property located at 335 North State Road 7 in Plantation, with a land size of 9.4 acres. The property was sold by CP Capital and Trammell Crow Residential for a total of $72,700,000. The transaction took place on January 6, 2022.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $72,700,000
- Address: 335 North State Road 7
- Market: Plantation
- Land Size: 9.4 acres
GID, represented by Gregory Bates, successfully acquired the property from CP Capital and Trammell Crow Residential, represented by Ken Valach, in this transaction. The property consists of 248 units, with a price per unit of $293,145.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,877,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$258,287.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$344,635.09
Annual Debt Service$4,135,621.08
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