Stuho Acquires University Park Multifamily From Irvin Kanthak Trust For $46M With Brokers Ernie Carswell & Sean Rosenzweig
SOLD
$46,000,000
+ 4
Illinois
See Similar DealsMultiFamily
Sold
SOLD
Stuho Acquires University Park Multifamily From Irvin Kanthak Trust For $46M With Brokers Ernie Carswell & Sean Rosenzweig
University Park, IL, USA
See Similar DealsMultiFamily
Sold
+ 4
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located in University Park has been sold. The transaction took place on November 6, 2019. The property, consisting of 193 units, was sold for a total price of $46,000,000, resulting in an average price per unit of $238,341. The seller in this transaction was the Irvin Kanthak trust, while the buyer was Stuho.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $46,000,000
- Units: 193
- Price per Unit: $238,341
The deal was facilitated by a team of brokers. Ernie Carswell, Rick Tyberg, and Sam Shakerchi from Douglas Elliman, along with Sean Rosenzweig, Tony Azzi, Rabbie Banifsheha, and Rob Bellamy from Marcus & Millichap, represented the seller and buyer respectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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