NorthEnd Equities & Motti Schapira Acquire Multifamily Portfolio In Florida For $240M
SOLD
$240,000,000
Florida
See Similar DealsMultiFamily
Sold 06/10/2022
SOLD
NorthEnd Equities & Motti Schapira Acquire Multifamily Portfolio In Florida For $240M
Jacksonville, Florida, United States
See Similar DealsMultiFamily
Sold 06/10/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
The recently sold property is a multifamily portfolio located in Lakeland, Jacksonville, Tampa, Orlando, Eustis, Mount Dora, and Winter Haven. The portfolio, consisting of 2,384 units, was sold for a total price of $240,000,000, resulting in a per unit price of $100,671.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $240,000,000
- Address: Multifamily Portfolio
- Market: Lakeland, Jacksonville, Tampa, Orlando, Eustis, Mount Dora, Winter Haven
The buyer of the portfolio is NorthEnd Equities & Motti Schapira, while the seller is Amzak Capital Management. The transaction was facilitated by CBRE brokers, Michael Regan and Frank Carriera.
Players
BUYER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$852,669.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,137,722.44
Annual Debt Service$13,652,669.31
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