StoneRiver Company Acquires 240-Unit Multifamily Property In Town Center, Jacksonville For $58.4M
SOLD
$58,400,000
Florida
See Similar DealsMultiFamily
SOLD
StoneRiver Company Acquires 240-Unit Multifamily Property In Town Center, Jacksonville For $58.4M
5140 Gate Parkway, Jacksonville, Florida 32256, United States
See Similar DealsMultiFamily
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 5140 Gate Pkwy N in the Town Center of Jacksonville has been sold for a total of $58,400,000. The property consists of 240 units, with each unit having an average price of $243,333.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $58,400,000
- Units: 240
- Price per Unit: $243,333
- Address: 5140 Gate Pkwy N, Town Center, Jacksonville
- Market: Town Center, Jacksonville
The buyer for this transaction is the StoneRiver Company, while the seller is Momentum Real Estate Partners, represented by Mauricio Gruener and Eduardo Gruener, Co-Founders and Co-CEOs, as well as Jeff Carron, Managing Director.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,114,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$207,482.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$276,845.79
Annual Debt Service$3,322,149.53
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