Lurin Acquires 22.6 Acre Multifamily In Tampa For $132M
SOLD
$132,000,000
Florida
See Similar DealsMultiFamily
Sold 06/16/2022
SOLD
Lurin Acquires 22.6 Acre Multifamily In Tampa For $132M
4003 South West Shore Boulevard, Tampa, Florida 33611, United States
See Similar DealsMultiFamily
Sold 06/16/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 4003 S West Shore Blvd in Tampa has been sold in a closed transaction. The property spans across 22.6 acres and features a total of 689 units. The sale price for this transaction amounted to $132,000,000, resulting in a per unit price of $191,582. The seller of the property was Gamma Real Estate.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $132,000,000
- Units: 689
- Per Unit Price: $191,582
- Address: 4003 S West Shore Blvd, Tampa
- Market: Tampa
- Seller: Gamma Real Estate
Lurin represented by Jon P. Venetos acted as the buyer in this transaction. Acore Capital Mortgage served as the lender.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$468,968.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$625,747.34
Annual Debt Service$7,508,968.12
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