facebook
Traded Co logo
Submit
Daily limit: 0/10

LVP Camellia Associates LLC Acquires Camellia World Commerce Center Apartments In St. Augustine For $53.3M

Property Image
SOLD
$53,300,000

Florida

See Similar Deals
MultiFamily
Sold 12/19/2023
the dealplayerscompscontact
Property Image
SOLD

LVP Camellia Associates LLC Acquires Camellia World Commerce Center Apartments In St. Augustine For $53.3M

50 Palma Vista Way

See Similar Deals
MultiFamily
Sold 12/19/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The Camellia World Commerce Center apartments in St. Augustine have been sold for $53.3 million to LVP Camellia Associates LLC, a company affiliated with Lightstone. This multifamily property, located at 50 Palma Vista Way, spans across 11.13 acres. The community, built in 2022, consists of 210 luxury apartments and offers amenities such as a clubhouse, pool, and fitness center.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $53,300,000
  • Address: 50 Palma Vista Way
  • Market: St. Augustine
  • Size (in acres): 11.13

Erik Bjornson and Tyler Nilsson from Institutional Property Advisors represented both the buyer, LVP Camellia Associates LLC, and the seller, WCC Palma Vista LLC, in this transaction.

Players

Erik Bjornson
Institutional Property Advisors
Erik Bjornson
11 deals$644.9M volume
BROKER

Details

SOLD
IMAGE: Tyler Nilsson & Erik Bjornson DATE: 12/19/2023 ADDRESS: 50 Palma Vista Way MARKET: St. Augustine ASSET TYPE: Multifamily ~ ACRES: 11.13 BUYER: LVP Camellia Associates LLC SELLER: WCC Palma Vista LLC BROKERS: Erik Bjornson & Tyler Nilsson - Institutional Property Advisors SALE PRICE: $53,300,000 UNITS: 210 ~ PPU: $253,810 NOTE: Camellia World Commerce Center apartments in St. Augustine sold for $53.3 million to LVP Camellia Associates LLC, affiliated with Lightstone. The 210-unit community, built in 2022, offers luxury apartments with amenities like a clubhouse, pool, and fitness center.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,842,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$189,363.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$252,669.19
Annual Debt Service$3,032,030.31