TLR Group Acquires Multifamily In Clearwater For $80.2M With Mortgage Broker CBRE Capital Markets
SOLD
$80,200,000
Florida
See Similar DealsMultiFamily
Sold 04/05/2022
SOLD
TLR Group Acquires Multifamily In Clearwater For $80.2M With Mortgage Broker CBRE Capital Markets
530 Fairwood Avenue, Clearwater, Florida 33759, United States
See Similar DealsMultiFamily
Sold 04/05/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Located at 530 Fairwood Ave. in Clearwater, this multifamily property has recently been sold for a total price of $80,200,000. The transaction took place on April 5th, 2022, and the property consists of 372 units, with a price per unit of $215,591. The buyer is TLR Group, a prominent real estate company.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $80,200,000
- Address: 530 Fairwood Ave., Clearwater
- Units: 372
- PPU: $215,591
The mortgage broker involved in this transaction was Eric Fixler, representing CBRE Capital Markets. Eric Fixler played a crucial role in facilitating the financing for this sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,277,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,933.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$380,188.92
Annual Debt Service$4,562,266.99
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