Updated Oct 29, 2024
Bluerock Real Estate Acquires MultiFamily Property In Orlando Sale
6820 Axis W Cir, Orlando, FL, 32821
Units
268
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Axis West is a 268-unit apartment community located at 6820 Axis W Cir, Orlando, FL, 32821. The property features amenities such as a coffee bar, central lake with a walking trail, clubhouse, fitness center with a spin room, car care center, saltwater swimming pool, and a dog park. Constructed by Flournoy Partners in 2017, the community was 93 percent leased at the time of sale. Bluerock Real Estate acquired Axis West for an undisclosed amount.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Undisclosed
- Seller's Rep: Scott Ramey, Patrick Dufour, Kevin Judd (ARA Newmark)
- Buyer: Bluerock Real Estate
The sale of Axis West in Orlando was facilitated by ARA Newmark, with Scott Ramey, Patrick Dufour, and Kevin Judd representing the seller, Flournoy Partners. Bluerock Real Estate was the buyer in the transaction.
Players
Orlando MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93