Four Corners Development Group Acquires Multifamily Property In Naples, FL For $26.5M
SOLD
$26,500,000
Florida
See Similar DealsMultiFamily150,000 SF
Sold 03/14/2023
SOLD
Four Corners Development Group Acquires Multifamily Property In Naples, FL For $26.5M
Green Blvd Naples, Fl
See Similar DealsMultiFamily150,000 SF
Sold 03/14/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:150,000 SF
Transaction Type:Sale
The multifamily property located at 4300 Green Blvd in Naples, FL has been sold. The transaction took place on March 14, 2023. The property spans 150,000 square feet and was sold for a price of $26,500,000, resulting in a price per square foot of $177.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,500,000
- Address: 4300 Green Blvd, Naples, FL
- Market: Naples, FL
The buyer in this transaction is Four Corners Development Group, represented by Jason Wisotsky. The seller is Kanesville Capital. The brokerage firm responsible for facilitating the sale is JBM® Institutional Multifamily Advisors, with Jamie May serving as the broker.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
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