TruAmerica Acquires Pinellas Park Multifamily From St. Regis Properties For $61M
SOLD
$61,000,000
Florida
See Similar DealsMultiFamily6,499 SF
Sold 02/01/2021
SOLD
TruAmerica Acquires Pinellas Park Multifamily From St. Regis Properties For $61M
5501 100th Ave N, Pinellas Park, FL, USA
See Similar DealsMultiFamily6,499 SF
Sold 02/01/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$9,386
Total Square Footage:6,499 SF
Transaction Type:Sale
The multifamily property located at 5501 100th Ave. N in Pinellas Park has been sold in a transaction. The property consists of 329 units and is part of the Pinellas Park market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Units: 329
- Price Per Unit: $185,410
- Date: 02/01/2021
- Buyer: TruAmerica
- Seller: St. Regis Properties
- Brokers: Francesco Carriera & Michael Regan - CBRE
The transaction was facilitated by brokers Francesco Carriera & Michael Regan of CBRE. They represented the buyer, TruAmerica, and the seller, St. Regis Properties.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$216,720.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$289,171.12
Annual Debt Service$3,470,053.45
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