The Aberly Group Acquires Multifamily Asset In Altamonte Springs For $54.7M
SOLD
$54,700,000
Florida
See Similar DealsMultiFamily3,486 SF
Sold 05/03/2021
SOLD
The Aberly Group Acquires Multifamily Asset In Altamonte Springs For $54.7M
850 Orienta Avenue, Altamonte Springs, FL, USA
See Similar DealsMultiFamily3,486 SF
Sold 05/03/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$15,691
Total Square Footage:3,486 SF
Transaction Type:Sale
The Altamonte Springs multifamily property located at 850 Orienta Avenue has been sold in a recent transaction. The property, consisting of 354 units, was purchased by The Aberly Group for a total price of $54,700,000. The sale was facilitated by Shelton Granade, Luke Wickham, and Justin Basquill of Institutional Property Advisors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $54,700,000
- Address: 850 Orienta Avenue
- Market: Altamonte Springs
The sale of this multifamily property marks a significant investment by The Aberly Group. The transaction was handled by the experienced brokers Shelton Granade, Luke Wickham, and Justin Basquill of Institutional Property Advisors. The property's prime location in Altamonte Springs adds to its appeal and potential value in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,917,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$194,337.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$259,305.91
Annual Debt Service$3,111,670.88
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