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Ryan Hanks Of Madison Communities Acquires Gainesville Multifamily Property From LCA Development For $39.5M

Property Image
SOLD
$39,500,000

Florida

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MultiFamily
Sold 08/05/2025
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Property Image
SOLD

Ryan Hanks Of Madison Communities Acquires Gainesville Multifamily Property From LCA Development For $39.5M

7000 Southwest 91st Street

See Similar Deals
MultiFamily
Sold 08/05/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in the transaction is a multifamily development located at 7000 Southwest 91st Street in Gainesville. The sale price for this 172-unit property was $39,500,000. Built in 2023 and currently 96% leased, this property is noted as Gainesville’s only stabilized build-to-rent community, spanning across 24 acres and situated near significant employers, including UF Health and HCA.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $39,500,000
  • Buyer: Ryan Hanks - Madison Communities
  • Seller: LCA Development
  • Units: 172
  • Price Per Unit: $229,651
  • Construction Loan Amount: $26,200,000
  • Financing Institution: Greystone

Ryan Hanks represented Madison Communities in the acquisition, marking their first investment in a build-to-rent asset. The transaction involved a construction loan assumption from LCA Development, indicating a strategic investment in the Gainesville real estate market.

Players

Madison Capital Group
Madison Capital Group
BUYER

Details

SOLD
IMAGE: Ryan Hanks DATE: 08/05/2025 ADDRESS: 7000 Southwest 91st Street MARKET: Gainesville ASSET TYPE: Multifamily BUYER: Ryan Hanks - Madison Communities (@MadisonCommunities) SELLER: LCA Development SALE PRICE: $39,500,000 UNITS: 172 ~ PPU: $229,651 NOTE: Madison Communities acquired its first build-to-rent asset, The Collective at Archer in Gainesville, FL, for $39.5M from LCA Development, assuming a $26.2M construction loan now held by Greystone. The 172-unit property, built in 2023 and 96% leased, is Gainesville’s only stabilized BTR community and sits on 24 acres near key employers like UF Health and HCA.

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0.94x

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