Raia Capital Management Acquires 204-Unit Multifamily In Tampa For $66.3M
SOLD
$66,300,000
Florida
See Similar DealsMultiFamily
Sold 12/10/2021
SOLD
Raia Capital Management Acquires 204-Unit Multifamily In Tampa For $66.3M
8801 Hidden River Parkway, Tampa, FL, USA
See Similar DealsMultiFamily
Sold 12/10/2021
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
An apartment complex located at 8801 Hidden Parkway in Tampa has been sold for $66,300,000. The multifamily property consists of 204 units, with a price per unit of $325,000. The sale was completed on 12/10/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,300,000
- Address: 8801 Hidden Parkway, Tampa
- Units: 204
- Price Per Unit: $325,000
The buyer of the property is Raia Capital Management, while the seller is Oxford Properties. The deal was facilitated by brokers Luis Elorza and Justin Hofford from NorthMarq.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,535,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$235,549.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$314,295.82
Annual Debt Service$3,771,549.90
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