TLR Group & Sarees Investments Acquire Multifamily Property In Brandon For $88M
SOLD
$88,000,000
Florida
See Similar DealsMultiFamily1,370 SF
Sold 11/12/2021
SOLD
TLR Group & Sarees Investments Acquire Multifamily Property In Brandon For $88M
650 Tapestry Lane, Brandon, FL, USA
See Similar DealsMultiFamily1,370 SF
Sold 11/12/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$64,233
Total Square Footage:1,370 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$312,645.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$417,164.90
Annual Debt Service$5,005,978.75
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