ConAm Management Corp Acquires Jacksonville Multifamily For $54M
SOLD
$54,000,000
Florida
See Similar DealsMultiFamily
Sold 11/06/2020
SOLD
ConAm Management Corp Acquires Jacksonville Multifamily For $54M
8540 Homeplace Drive
See Similar DealsMultiFamily
Sold 11/06/2020
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 8540 Homeplace Drive in Jacksonville has been sold for a total price of $54,000,000. The property consists of 252 units, with a price per unit (PPU) of approximately $217,857. The sale took place on November 6, 2020, and the buyer is ConAm Management Corp, while the seller is Fort Family Park.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Units: 252
- PPU: $217,857
The transaction was facilitated by brokers Brian Moulder, Dhaval Patel, and Bobby Gatling from Walker & Dunlop.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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