Pedcor Acquires Fort Walton Beach Multifamily From Lurin Capital For $30.6M
604 Colonial Drive, Fort Walton Beach, FL, USA
$30,600,000
$31,941/SF
Building Size
958 SF
Asset Type
MultiFamily
Closing
Oct 25, 2021
AI
The multifamily property located at 604 Colonial Drive & 5 Mooney Road NE in Fort Walton Beach has been sold. The transaction took place on 10/25/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $30,600,000
- Number of Units: 195
- Price per Unit (PPU): $156,923
The buyer of the property is Pedcor, while the seller is Lurin Capital. The deal was facilitated by brokers Parker Caldwell & Craig Hey from Cushman & Wakefield.
This transaction involved a total of 195 units, with each unit valued at $156,923. The sale price reached $30,600,000.
Players
Fort Walton Beach 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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93