Updated Oct 29, 2024
StoneRiver Company Acquires 240-Unit Multifamily Property In Town Center, Jacksonville For $58.4M
5140 Gate Parkway, Jacksonville, Florida 32256, United States
$58,400,000
Units
240
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
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
Jacksonville 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93