Independence Realty Trust Acquires Multifamily Property In Riverview For $98M With Buyer's Rep Scott Schaeffer & Seller Valhalla Holdings
SOLD
$98,000,000
Florida
See Similar DealsMultiFamily
Sold 09/19/2022
SOLD
Independence Realty Trust Acquires Multifamily Property In Riverview For $98M With Buyer's Rep Scott Schaeffer & Seller Valhalla Holdings
9707 Tranquility Lake Cir, Riverview, Florida 33578, United States
See Similar DealsMultiFamily
Sold 09/19/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 9707 Tranquility Lake Circle in Riverview has been sold for a price of $98,000,000. The property consists of 348 units, resulting in a per unit price of $281,609.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $98,000,000
- Address: 9707 Tranquility Lake Circle
- Market: Riverview
The buyer of the property is Independence Realty Trust, represented by Scott Schaeffer. The seller is Valhalla Holdings.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$348,173.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$464,570.00
Annual Debt Service$5,574,839.97
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