PRG Real Estate Acquires Multifamily Property In Town Center, Jacksonville For $84.25M
8649 A. C. Skinner Parkway, Jacksonville, Florida 32256, United States
$84,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 14, 2022
AI
Located at 8649 A C Skinner Pkwy in Town Center, Jacksonville, this multifamily property was recently sold in a closed transaction. The property consists of 300 units, with an average price per unit of $280,833. The sale was completed on November 14, 2022, for a total price of $84,250,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $84,250,000
PRG Real Estate acted as the buyer in this transaction, while the seller was Momentum Real Estate Partners. The co-founders and co-CEOs of Momentum Real Estate Partners, Mauricio and Eduardo Gruener, were personally involved in the sale.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93