TLR Group & Sarees Investments Acquire Multifamily Property In Brandon For $88M
650 Tapestry Lane, Brandon, FL, USA
$88,000,000
$64,233/SF
Building Size
1,370 SF
Asset Type
MultiFamily
Closing
Nov 11, 2021
AI
The multifamily property located at 650 Tapestry Lane in Brandon has been sold for a price of $88,000,000. The sale was finalized on November 12, 2021. The property consists of 287 units, with a per unit price of approximately $306,620.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $88,000,000
- Units: 287
- Price Per Unit: $306,620
The buyer of the property is TLR Group & Sarees Investments, while Arlington Properties represented by Jim Dixon acted as the seller. Jim Dixon from Arlington Properties served as the seller's representative in this transaction.
Players
Brandon 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93