Updated Oct 29, 2024
FrontRange Capital Partners Acquires 185-Unit Multifamily Property In Jacksonville For $57.7M
959 Prudential Dr, Jacksonville, Florida 32207, United States
$57,700,000
Units
185
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
The multifamily property located at 959 Prudential Drive in Jacksonville was sold in a recent transaction. The property spans 2.5 acres and features 185 units. The sale took place on October 21, 2022, with a sale price of $57,700,000, resulting in a price per unit of $311,892. The transaction involved the buyer, FrontRange Capital Partners, and the seller, Ventures Development Group.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $57,700,000
- Location: 959 Prudential Drive, Jacksonville
- Market: Jacksonville
- Acres: 2.5
Representing the buyer, FrontRange Capital Partners, were brokers Cliff Taylor and Joe Ayers from CBRE Group.
On the Map
$57,700,000
MultiFamily
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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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93