Blackstone Group Acquires Multifamily Property In Tampa For $76.5M
SOLD
$76,500,000
Florida
See Similar DealsMultiFamily1,529 SF
Sold 04/09/2021
SOLD
Blackstone Group Acquires Multifamily Property In Tampa For $76.5M
5145 South Dale Mabry Highway, Tampa, FL, USA
See Similar DealsMultiFamily1,529 SF
Sold 04/09/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$50,032
Total Square Footage:1,529 SF
Transaction Type:Sale
A multifamily property located at 5145 South Dale Mabry Highway in Tampa has been sold for a total price of $76,500,000. The property consists of 300 units, with a price per unit of $255,000. The sale took place on April 9, 2021. The buyers of the property were Blackstone Group, represented by Stephen Schwarzman and Jon Gray, while the sellers were List Developers and Gries Investment Funds.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $76,500,000
- Units: 300
- Price Per Unit: $255,000
- Address: 5145 South Dale Mabry Highway, Tampa
- Market: Tampa
The Blackstone Group, led by Stephen Schwarzman and Jon Gray, acquired the property from List Developers and Gries Investment Funds in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,080,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$271,788.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$362,649.03
Annual Debt Service$4,351,788.34
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