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3975 Country Place Lane, Pa...

TruAmerica Acquires 292-Unit Multifamily In Palm Harbor For $47M
SOLDMultiFamily

TruAmerica Acquires 292-Unit Multifamily In Palm Harbor For $47M

3975 Country Place Lane, Palm Harbor, FL, USA

$47,000,000

$4,662/SF

Building Size

10,080 SF

Asset Type

MultiFamily

Closing

Dec 6, 2020

AI

The sale of a multifamily property located at 3975 Country Place Lane in Palm Harbor has been completed. The property, consisting of 292 units, was sold for a total price of $47,000,000, resulting in a per unit price of $160,959.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $47,000,000
  • Address: 3975 Country Place Lane
  • Market: Palm Harbor

The buyer of the property was TruAmerica, while the seller was The RADCO Companies, represented by Norman Radow. The sale was facilitated by brokers Patrick Dufour, Ryan Crowley, Andrew Visnick, Pibu Aulakh, Mitch Clarfield, and Ryan Greer of Newmark.

Players

Patrick Dufour

Newmark

Broker

$1B

vol

15 deals

Broker
TruAmerica Multifamily
TruAmerica MultifamilyBuyer
R
RADCOSeller

Palm Harbor MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93