Connor Group Acquires Multifamily Property In Zionsville For $40.5M
SOLD
$40,500,000
Indiana
See Similar DealsMultiFamily5,434 SF
Sold 01/08/2021
SOLD
Connor Group Acquires Multifamily Property In Zionsville For $40.5M
5000 Bennett Parkway, Zionsville, IN, USA
See Similar DealsMultiFamily5,434 SF
Sold 01/08/2021
Summary
INDIANA
Asset Type:MultiFamily
Price Per Square Foot:$7,453
Total Square Footage:5,434 SF
Transaction Type:Sale
The multifamily property located at 5000 Bennett Parkway in Zionsville has been sold in a transaction. The property consists of 219 units and is situated in the market of Zionsville. The sale took place on 01/08/2021, with a selling price of $40,500,000. This equates to an average price per unit of $184,931. The buyer of the property is the Connor Group, represented by Jeff Pickett.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,500,000
- Address: 5000 Bennett Parkway, Zionsville
- Market: Zionsville
- Units: 219
- Price Per Unit: $184,931
Jeff Pickett from the Connor Group played a key role as the buyer's representative in this transaction. His expertise and negotiation skills were instrumental in successfully closing the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
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