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Covenant Capital Group Acquires Multifamily Property In Indianapolis For $26.5M

Property Image
SOLD
$26,500,000
Matt Cogen
Brian Devlin
+ 1

Indiana

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MultiFamily
Sold 09/08/2021
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Property Image
SOLD

Covenant Capital Group Acquires Multifamily Property In Indianapolis For $26.5M

811 Antique Court, Indianapolis, IN 46260

See Similar Deals
MultiFamily
Sold 09/08/2021
Matt Cogen
Brian Devlin
+ 1
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Summary

INDIANA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 811 Antique Ct in Indianapolis, IN has been sold for a total price of $26,500,000. The transaction took place on September 8, 2021, and the property consists of 221 units. The price per unit for this sale is $119,910. The buyer of the property is Covenant Capital Group, while the seller is Mordoh Development LLC. The deal was facilitated by the brokers Matt Cogen, Brian Devlin, Brandon Wilson, and Noah Budd from The Kirkland Company.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $26,500,000
  • Units: 221
  • Price per Unit: $119,910
  • Buyer: Covenant Capital Group
  • Seller: Mordoh Development LLC
  • Brokers: Matt Cogen, Brian Devlin, Brandon Wilson, and Noah Budd - The Kirkland Company

The successful sale of the property at 811 Antique Ct was made possible by the cooperation of Covenant Capital Group as the buyer and Mordoh Development LLC as the seller. The brokers involved in the transaction, namely Matt Cogen, Brian Devlin, Brandon Wilson, and Noah Budd from The Kirkland Company, played crucial roles in facilitating the deal. Their expertise and negotiation skills helped ensure the smooth completion of the transaction.

Players

1 deal$26.5M volume
BROKER


Brandon Wilson
The Kirkland Company
3 deals$326.5M volume
BROKER

Noah Budd
1 deal$26.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Noah Mudd, Brian Devlin, Matt Cogen & Brandon Wilson DATE: 09/08/2021 ADDRESS: 811 Antique Ct MARKET: Indianapolis, IN ASSET TYPE: Multifamily BUYER: Covenant Capital Group SELLER: Mordoh Development LLC BROKERS: Matt Cogen, Brian Devlin, Brandon Wilson & Noah Budd - The Kirkland Company SALE PRICE: $26,500,000 UNITS: 221 ~ PPU: $119,910

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Deal Type
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