TruAmerica Multifamily Acquires Clearwater Multifamily For $69.4M
SOLD
$69,400,000
Florida
See Similar DealsMultiFamily
Sold 01/23/2023
SOLD
TruAmerica Multifamily Acquires Clearwater Multifamily For $69.4M
6465 142nd Avenue North
See Similar DealsMultiFamily
Sold 01/23/2023
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 6465 142nd Avenue N in Clearwater has been sold in a closed transaction. The property spans across 36 acres in size and is situated in the Clearwater market.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $69,400,000
- Units: 461
- Price Per Unit: $150,542
- Buyer: TruAmerica Multifamily - Robert(Bob) E. Hart
- Seller: Investcorp International Realty
- Date: 01/23/2023
TruAmerica Multifamily, represented by Robert(Bob) E. Hart, has acquired the property from Investcorp International Realty. The sale of this multifamily asset marks a significant transaction in the Clearwater market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,701,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$246,563.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$328,991.41
Annual Debt Service$3,947,896.87
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