Park Partners Residential & Independencia Asset Management Acquire Multifamily Asset In Orlando For $77.8M
SOLD
$77,800,000
Florida
See Similar DealsMultiFamily
Sold 03/23/2022
SOLD
Park Partners Residential & Independencia Asset Management Acquire Multifamily Asset In Orlando For $77.8M
8050 Gables Commons Drive
See Similar DealsMultiFamily
Sold 03/23/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 8050 Gables Commons Drive in Orlando has been sold for a total of $77,800,000. The transaction took place on March 23, 2022. The property consists of 280 units, with an average price per unit of $277,857.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $77,800,000
- Address: 8050 Gables Commons Drive
- Market: Orlando
The buyers of this property are Park Partners Residential and Independencia Asset Management. They acquired the property from the seller, Ares Management. The deal was facilitated with the assistance of brokers Jubeen Vaghefi, Denny St. Romain, and Charles Crapse from Cushman & Wakefield. The lender involved in the transaction was American Real Estate Capital.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,149,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$276,406.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$368,811.69
Annual Debt Service$4,425,740.30
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