Updated Oct 29, 2024
Hilltop Residential Investments Acquires Multifamily Property In Jacksonville For $26M
Pall Mall Drive, Jacksonville, FL, USA
$26,000,000
$151/SF
Building Size
171,856 SF
Asset Type
MultiFamily
Closing
Apr 21, 2021
About this deal
AI
Located at 3580 Pall Mall Drive in Jacksonville, the multifamily property was recently sold in a closed transaction. The property consists of 152 units, offering a PPU (price per unit) of $171,053. The deal was completed on April 22, 2021, with a total transaction amount of $26,000,000. The property was purchased by Hilltop Residential Investments, represented by Greg Finch and David Wylie. The seller, JMJ Property Holdings, facilitated the transaction.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Units: 152
- Price per Unit: $171,053
- Date: April 22, 2021
- Address: 3580 Pall Mall Drive
- Market: Jacksonville
The transaction was finalized between Hilltop Residential Investments, represented by Greg Finch and David Wylie, as the buyers, and JMJ Property Holdings as the sellers. This successful deal marks an important milestone in the Jacksonville property market, showcasing the continued growth and investment opportunities in the multifamily sector.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $151 per square foot on a published $26M for 171,856 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93