TruAmerica Multifamily Acquires Clearwater Multifamily For $69.4M
6465 142nd Avenue North
$69,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 23, 2023
AI
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.
Players
Clearwater MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93