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Nimes Real Estate Acquires Student Housing In Tampa For $34.2M

Property Image
SOLD
$34,200,000

Florida

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Other197,708 SF
Sold 03/30/2021
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Property Image
SOLD

Nimes Real Estate Acquires Student Housing In Tampa For $34.2M

11326 N 46th St, Tampa, FL, USA

See Similar Deals
Other197,708 SF
Sold 03/30/2021
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Other
Price Per Square Foot:$173
Total Square Footage:197,708 SF
Transaction Type:Sale

The student housing property located at 11326 North 46th St. in Tampa has been sold for a total of $34,200,000. The sale took place on 03/30/2021. The property consists of 106 units. The price per unit was approximately $322,642.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: $34,200,000
  • Buyer: Nimes Real Estate - David Nazarian
  • Seller: Landmark Properties Inc. - J. Wesley Rogers
  • Address: 11326 North 46th St.
  • Market: Tampa

The buyer, Nimes Real Estate, was represented by David Nazarian, while the seller, Landmark Properties Inc., was represented by J. Wesley Rogers.

Players

J. Wesley Rogers
Landmark Properties
J. Wesley Rogers
5 deals$61.8M volume
SELLER
Landmark Properties
Landmark Properties
SELLER

Details

SOLD
IMAGE: David Nazarian & J. Wesley Rogers DATE: 03/30/2021 ADDRESS: 11326 North 46th St. MARKET: Tampa ASSET TYPE: Student Housing BUYER: Nimes Real Estate - David Nazarian SELLER: Landmark Properties Inc. - J. Wesley Rogers PRICE: $34,200,000 UNITS: 106 ~ PPU: $322,642

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$121,505.38
Cash-on-Cash Return-1.27%
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