Updated Nov 27, 2024
The Collins Group Acquires Multifamily Property In Jacksonville For $47M
6371 Collins Rd, Jacksonville, FL 32244, USA
$47,000,000
$46,442/SF
Building Size
1,012 SF
Asset Type
MultiFamily
Closing
Oct 14, 2020
About this deal
AI
The Collins Group has acquired a multifamily property located at 6371 Collins Road in Jacksonville. The transaction was facilitated by brokers Cliff Taylor and Joe Ayers from CBRE. The property consists of 300 units and was sold by DRA Advisors for a total price of $47,000,000, resulting in a price per unit of $156,666.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: 6371 Collins Road, Jacksonville
- Market: Jacksonville
- Buyer: The Collins Group
- Seller: DRA Advisors
- Brokers: Cliff Taylor & Joe Ayers - CBRE
- Units: 300
- Price per Unit: $156,666
The acquisition of this multifamily property by The Collins Group was facilitated by the brokers Cliff Taylor and Joe Ayers from CBRE. The deal involved the sale of 300 units from the seller, DRA Advisors, for a total price of $47,000,000. The property is located at 6371 Collins Road in Jacksonville.
Players
Jacksonville 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93