Updated Nov 27, 2024
Blackstone Acquires 248-Unit Multifamily In Jacksonville For $21.1M
3544 Saint Johns Bluff Road South, Jacksonville, Florida 32224, United States
$21,117,000
Units
248
Asset Type
MultiFamily
Closing
Dec 20, 2022
About this deal
AI
The multifamily property located at 3544 St. Johns Bluff Road in Jacksonville has been sold in a recent transaction. Spanning across 17.4 acres, this property offers a significant investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,117,000
- Address: 3544 St. Johns Bluff Road
- Market: Jacksonville
- Acres: 17.4
The buyer, Blackstone, successfully acquired the property from Logan’s Pointe Associates LTD. This transaction involved the sale of 248 units at a price per unit (PPU) of $85,149. The details of this closed deal highlight the active real estate market in Jacksonville.
Players
Jacksonville 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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93