Knightvest Capital Acquires Multifamily Property In Orlando For $105.3M
SOLD
$105,300,000
Florida
See Similar DealsMultiFamily
Sold 06/07/2022
SOLD
Knightvest Capital Acquires Multifamily Property In Orlando For $105.3M
733 Main Lane, Orlando, Florida 32801, United States
See Similar DealsMultiFamily
Sold 06/07/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Knightvest Capital, represented by Jason Dallas, has acquired a multifamily property located at 733 Main Lane in Orlando. The property, sold by Crescent Communities, was brokered by Scott Ramey from Newmark. The transaction took place on June 7, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $105,300,000
- Units: 375
- Price Per Unit: $280,800
The acquisition by Knightvest Capital, led by Jason Dallas, signifies their strategic expansion in the Orlando market. This purchase adds 375 multifamily units to their portfolio and further solidifies their presence in the real estate market. Scott Ramey from Newmark played a crucial role in facilitating the transaction between Knightvest Capital and Crescent Communities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,616,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$374,108.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$499,175.72
Annual Debt Service$5,990,108.66
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