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American Landmark Apartments Acquires 348-Unit Multifamily In Jacksonville For $79.5M

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SOLD
$79,500,000

Florida

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MultiFamily
Sold 04/20/2020
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Property Image
SOLD

American Landmark Apartments Acquires 348-Unit Multifamily In Jacksonville For $79.5M

65 Santosa Drive

See Similar Deals
MultiFamily
Sold 04/20/2020
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 65 Sentosa Drive in Jacksonville has been sold in a recent transaction. The property, consisting of 348 units, was sold for a total price of $79,500,000. This translates to a price per unit of $228,448. The sale took place on 04/20/2020, and the buyer of the property is American Landmark Apartments, represented by Christine DeFilippis. The seller of the property is Sentosa Beachwalk Apartments LLC. The brokers involved in the deal were Brian Moulder and Dhaval Patel from Walker & Dunlop.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $79,500,000
  • Total Units: 348
  • Price per Unit: $228,448
  • Buyer: American Landmark Apartments - Christine DeFilippis
  • Seller: Sentosa Beachwalk Apartments LLC
  • Brokers: Brian Moulder & Dhaval Patel - Walker & Dunlop

Christine DeFilippis represented American Landmark Apartments in the transaction, showcasing their expertise in the real estate market. Brian Moulder and Dhaval Patel, from Walker & Dunlop, played a crucial role as brokers in facilitating the deal between the buyer and the seller.

Players

Brian Moulder
17 deals$1.3B volume(904) 718-8222
BROKER

Dhaval Patel
10 deals$628.8M volume(407) 712-6651
BROKER

Christine DeFilippis
American Landmark Apartments
6 deals$281.1M volume
BUYER

Details

SOLD
IMAGE: Christine DeFilippis, Brian Moulder & Dhaval Patel DATE: 04/20/2020 ADDRESS: 65 Sentosa Drive MARKET: Jacksonville ASSET TYPE: Multifamily BUYER: American Landmark Apartments - Christine DeFilippis SELLER: Sentosa Beachwalk Apartments LLC BROKERS: Brian Moulder & Dhaval Patel - Walker & Dunlop PRICE: $79,500,000 UNITS: 348 PPU: $228,448

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,240,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$282,446.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$376,870.56
Annual Debt Service$4,522,446.71