Westmount Square Capital & Miramar Capital Acquire Multifamily Property In Jacksonville For $45.1M
SOLD
$45,100,000
Florida
See Similar DealsMultiFamily15,161 SF
Sold 10/29/2021
SOLD
Westmount Square Capital & Miramar Capital Acquire Multifamily Property In Jacksonville For $45.1M
5885 Edenfield Road, Jacksonville, FL 32277
See Similar DealsMultiFamily15,161 SF
Sold 10/29/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,974
Total Square Footage:15,161 SF
Transaction Type:Sale
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,100,000
- Date: 10/29/2021
- Address: 5885 Edenfield Road
- Market: Jacksonville
- Acres: 14
Located at 5885 Edenfield Road in Jacksonville, this multifamily property spans 14 acres. The transaction took place on October 29, 2021, and involved a sale of the property.
The property was sold for a total of $45,100,000. It consists of 332 units, with a price per unit of $135,843.
Westmount Square Capital and Miramar Capital acted as the buyers in this transaction, while Savlan Capital served as the seller. NAI Hallmark represented both parties, with John Rutherford and Luke McCann acting as the brokers.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,405,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$160,230.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,797.01
Annual Debt Service$2,565,564.11
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