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4950 West Prescott Street

Joe Lubeck Of American Landmark Apartments Acquires Multifamily Property In Tampa For $134M
SOLDMultiFamily

Joe Lubeck Of American Landmark Apartments Acquires Multifamily Property In Tampa For $134M

4950 West Prescott Street

$134,000,000

$282/SF

Building Size

473,679 SF

Asset Type

MultiFamily

Closing

May 1, 2024

AI

The multifamily property located at 4950 West Prescott Street in Tampa was sold for $134,000,000. The property comprises 444 units with a price per unit of $301,802. The total square footage of the property is 473,679, with a price per square foot of $283.

Summary of transaction details:

The deal involved key individuals in the transaction. Joe Lubeck represented American Landmark Apartments as the buyer, while Bjarne Borg was the seller from Index Investment Group. The seller's representatives from Colliers International were Bastian Schauer, Will Mathews, Shawn Rupp, Casey Babb, Mark M. Rubin, and Luis Baez.

Players

Luis Baez

Colliers

Broker

$168.2M

vol

6 deals

Broker

Tampa 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

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93