American Landmark Acquires Multifamily Property In Jacksonville For $65.2M
SOLD
$65,250,000
Florida
See Similar DealsMultiFamily23,777 SF
Sold 12/07/2021
SOLD
American Landmark Acquires Multifamily Property In Jacksonville For $65.2M
6505 Collins Rd, Jacksonville, FL, USA
See Similar DealsMultiFamily23,777 SF
Sold 12/07/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,744
Total Square Footage:23,777 SF
Transaction Type:Sale
A multifamily property located at 6505 Collins Rd in Jacksonville has been sold in a recent transaction. The property, consisting of 226 units, was sold for a total price of $65,250,000, resulting in an average price per unit of $288,717. The sale was facilitated by brokers Erik Bjornson & Tyler Nilsson from Newmark.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $65,250,000
- Address: 6505 Collins Rd
- Market: Jacksonville
- Buyer: American Landmark
- Seller: Arlington Properties
- Brokers: Erik Bjornson & Tyler Nilsson - Newmark
- Units: 226
- Average Price Per Unit: $288,717
American Landmark acquired the multifamily property located at 6505 Collins Rd in Jacksonville from Arlington Properties. The transaction, facilitated by brokers Erik Bjornson & Tyler Nilsson from Newmark, resulted in a sale price of $65,250,000. The property consists of 226 units and was sold at an average price per unit of $288,717.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$231,819.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$309,318.29
Annual Debt Service$3,711,819.47
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