Updated Oct 28, 2024
Treeline Partners Acquires Multifamily Property In Saint Petersburg For $123.2M
3951 34th Street South, St. Petersburg, Florida 33711, United States
$123,200,000
$1,303/SF
Building Size
94,500 SF
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
A multifamily property located at 3951 34th St in Saint Petersburg was recently sold in a transaction on May 27, 2022. The property, consisting of 308 units, was sold by ContraVest Development Partners to Treeline Partners for a sale price of $123,200,000. The per unit price for this transaction was $400,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $123,200,000
- Units: 308
- Price Per Unit: $400,000
- Market: Saint Petersburg
Treeline Partners served as the buyer in this transaction, while ContraVest Development Partners acted as the seller. The sale of this multifamily property marks a significant deal between the two companies.
Players
Saint Petersburg 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93