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TruAmerica Multifamily Sells Fort Myers Multifamily Property For $96M

Property Image
SOLD
$96,000,000
Zach Nolan
Matt Mitchell
Jarrod Smith
+ 3

Florida

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MultiFamily640 SF
Sold 02/21/2020
the dealplayerscompscontact
Property Image
SOLD

TruAmerica Multifamily Sells Fort Myers Multifamily Property For $96M

18545 Southwest 82nd Avenue, Cutler Bay, FL 33157

See Similar Deals
MultiFamily640 SF
Sold 02/21/2020
Zach Nolan
Matt Mitchell
Jarrod Smith
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$150,000
Total Square Footage:640 SF
Transaction Type:Sale

The multifamily property located at 3701 Winkler Ave in Fort Myers has been sold for $96,000,000. The asset consists of 640 units, resulting in a price per unit (PPU) of $150,000. The sale took place on February 21, 2020.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $96,000,000
  • Address: 3701 Winkler Ave, Fort Myers
  • Market: Fort Myers

The property was sold by TruAmerica Multifamily. The sale was facilitated by JLL Capital Markets, with brokers berkadia'>Matt Mitchell, Zach Nolan, Brett Moss, Drew Jennewein, Jarrod Smith, and Bailey Smith representing the seller.

Players

Brett Moss
Berkadia
Brett Moss
11 deals$912.8M volume
BROKER
Matt Mitchell
Berkadia
Matt Mitchell
5 deals$515.5M volume
BROKER
Zach Nolan
JLL
Zach Nolan
8 deals$465.7M volume
BROKER
Drew Jennewein
JLL
Drew Jennewein
5 deals$241.8M volume
BROKER
Jarrod Smith
JLL
Jarrod Smith
1 deal$96M volume
BROKER
Bailey Smith
JLL
Bailey Smith
1 deal$96M volume
BROKER
TruAmerica Multifamily
TruAmerica Multifamily
SELLER

Details

SOLD
IMAGE: Matt Mitchell, Zach Nolan, Brett Moss, Jarrod Smith & Bailey Smith DATE: 02/21/2020 ADDRESS: 3701 Winkler Ave MARKET: Fort Myers ASSET TYPE: Multifamily SELLER: TruAmerica Multifamily BROKERS: Matt Mitchell, Zach Nolan, Brett Moss, Drew Jennewein, Jarrod Smith & Bailey Smith - JLL Capital Markets PRICE: $96,000,000 UNITS: 640 ~ PPU: $150,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,119,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$341,067.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$455,088.98
Annual Debt Service$5,461,067.72