Griffis Blessing Inc Acquires Multifamily In Lawrence, KS For $46.65M
SOLD
$46,650,000
Kansas
See Similar DealsMultiFamily
Sold 08/24/2022
SOLD
Griffis Blessing Inc Acquires Multifamily In Lawrence, KS For $46.65M
2300 Wakarusa Drive, Lawrence, Kansas 66047, United States
See Similar DealsMultiFamily
Sold 08/24/2022
Summary
KANSAS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 5555 W 6th St & 2300 Wakarusa Dr in Lawrence, KS has been sold. The transaction took place on August 24, 2022. The property consists of 404 units and was sold for a total price of $46,650,000, resulting in an average price per unit of $115,470.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $46,650,000
- Units: 404
- Price per Unit: $115,470
The buyer in this transaction was Griffis Blessing Inc, while the sellers were CAPREIT and Dome Equities. The deal was facilitated by Northmarq, acting as the broker in the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,488,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$165,737.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$221,144.80
Annual Debt Service$2,653,737.60
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