Lauth Communities Acquires 144-Unit Multifamily In Bowling Green, KY For $19.5M
SOLD
$19,500,000
Kentucky
See Similar DealsMultiFamily173,947 SF
Sold 06/25/2020
SOLD
Lauth Communities Acquires 144-Unit Multifamily In Bowling Green, KY For $19.5M
280 Cumberland Trace Road, Bowling Green, KY, USA
See Similar DealsMultiFamily173,947 SF
Sold 06/25/2020
Summary
KENTUCKY
Asset Type:MultiFamily
Price Per Square Foot:$112
Total Square Footage:173,947 SF
Transaction Type:Sale
The multifamily property located at 280 Cumberland Trace Rd. in Bowling Green, KY has been sold for a total of $19,500,000. The transaction took place on June 25, 2021. The property consists of 144 units, resulting in a per unit price of $135,416.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,500,000
- Address: 280 Cumberland Trace Rd.
- Market: Bowling Green, KY
The buyer of the property is Lauth Communities, represented by Michael Garvey. The seller is Miller Frishman. The brokers involved in the transaction are Jay Weiner and Jonathan Brody from Rosewood Real Estate Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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