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Viewpoint Equities Acquires Multifamily Property In Jacksonville From Hines For $75M

Property Image
SOLD
$75,000,000
Dhaval Patel
Brian Moulder
Bobby Gatling

Florida

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MultiFamily
Sold 06/01/2020
the dealplayerscompscontact
Property Image
SOLD

Viewpoint Equities Acquires Multifamily Property In Jacksonville From Hines For $75M

7385 Park Village Drive

See Similar Deals
MultiFamily
Sold 06/01/2020
Dhaval Patel
Brian Moulder
Bobby Gatling
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 7385 Park Village Drive in Jacksonville was recently sold in a transaction. The sale took place on 06/01/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $75,000,000
  • Units: 306
  • Price Per Unit: $245,098

The buyer of the property was Viewpoint Equities, while the seller was Hines. The deal was facilitated by the brokers Brian Moulder, Bobby Gatling, and Dhaval Patel from Walker & Dunlop.

Players

Bobby Gatling
Walker & Dunlop
Bobby Gatling
9 deals$549.3M volume(904) 437-5251
BROKER
Brian Moulder
Walker & Dunlop
Brian Moulder
17 deals$1.3B volume(904) 718-8222
BROKER
Dhaval Patel
Dhaval Patel
10 deals$628.8M volume(407) 712-6651
BROKER
Hines
Hines
BROKERAGE
VE
Viewpoint Equities
BUYER
Hines
Hines
SELLER

Details

SOLD
IMAGE: Brian Moulder, Dhaval Patel & Bobby Gatling DATE: 06/01/2021 ADDRESS: 7385 Park Village Drive MARKET: Jacksonville ASSET TYPE: Multifamily BUYER: Viewpoint Equities SELLER: Hines BROKERS: Brian Moulder, Bobby Gatling & Dhaval Patel - Walker & Dunlop SALE PRICE: $75,000,000 UNITS: 306 ~ PPU: $245,098

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,000,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16