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Covenant Capital Group Acquires Multifamily Asset In Jacksonville For $19.6M

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SOLD
$19,600,000

Florida

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MultiFamily241,768 SF
Sold 09/08/2021
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Property Image
SOLD

Covenant Capital Group Acquires Multifamily Asset In Jacksonville For $19.6M

4455 Confederate Point Road, Jacksonville, FL 32210, USA

See Similar Deals
MultiFamily241,768 SF
Sold 09/08/2021
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$81
Total Square Footage:241,768 SF
Transaction Type:Sale

The multifamily property located at 4455 Confederate Point Road, Jacksonville, was recently sold. The transaction took place on 09/08/2021, with Covenant Capital Group LLC as the buyer. The property, consisting of 206 units, was sold for a price of $19,600,000, resulting in an average price per unit of $95,146. The sale was facilitated by brokers Mike Donaldson and Nick Meoli from Cushman & Wakefield.

Summary of transaction details:

This successful transaction highlights the involvement of Covenant Capital Group LLC as the buyer and the significant role played by brokers Mike Donaldson and Nick Meoli from Cushman & Wakefield in facilitating the sale.

Players

Michael (Mike) Donaldson
20 deals$743.6M volume(813) 658-8278
BROKER

Nicholas (Nick) Meoli
Cushman & Wakefield
20 deals$743.6M volume(312) 470-1800
BROKER

Details

SOLD
IMAGE: Nick Meoli & Mike Donaldson DATE: 09/08/2021 ADDRESS: 4455 Confederate Point Road MARKET: Jacksonville ASSET TYPE: Multifamily BUYER: Covenant Capital Group LLC BROKERS: Mike Donaldson & Nick Meoli - Cushman & Wakefield SALE PRICE: $19,600,000 UNITS: 206 ~ PPU: $95,146

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,634.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,914.00
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