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IRT Acquires Autumn Breeze Multifamily Community In Noblesville From Lightstone Group For $59.5M
SOLD
$59,500,000
+ 3
Indiana
See Similar DealsMultiFamily
Sold 03/06/2025
SOLD
IRT Acquires Autumn Breeze Multifamily Community In Noblesville From Lightstone Group For $59.5M
14901 Beauty Berry Lane
See Similar DealsMultiFamily
Sold 03/06/2025
+ 3
Summary
INDIANA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved a multifamily asset located at 14901 Beauty Berry Lane in Noblesville, IN. The property was sold for $59,500,000, comprising 280 units, resulting in a price per unit of $212,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $59,500,000
- Units: 280
- Price Per Unit: $212,500
- Buyer: IRT
- Seller: Lightstone Group
- Brokers: Cameron Benz, Clair Hassfurther, George Tikijian, Hannah Ott, Ryan Stockamp & Sean Pingel - CBRE
The brokerage firm CBRE facilitated the transaction, with Hannah Ott and George Tikijian representing the seller, Lightstone Group, in this sale to buyer IRT.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$211,390.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$282,060.36
Annual Debt Service$3,384,724.27
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