Updated Oct 29, 2024
Oakley Group Acquires 80-Unit Griffin Gate Apartment Community In Hopkinsville, TN For $10.8M
300 Griffin Gate Drive Hopkinsville, Kentucky 42240, USA
$10,800,000
Units
80
Asset Type
MultiFamily
Closing
Jul 19, 2023
About this deal
AI
Oakley Group has acquired Griffin Gate, an 80-unit apartment community in Hopkinsville, Tennessee, for $10.8 million. The property is situated on 16 acres and offers multifamily living options. With a purchase price of $135,000 per unit, this acquisition presents a significant opportunity for Oakley Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,800,000
- Units: 80
- Price Per Unit: $135,000
- Address: 300 Griffin Gate Drive, Hopkinsville, KY
- Market: Hopkinsville, KY
Tyler Mayo of Cushman & Wakefield served as the broker for Oakley Group's acquisition of Griffin Gate. Supporting the transaction, Lument provided the financing, with Chad Hagwood and Brandon Pate representing the lender. These key individuals played a crucial role in facilitating the successful purchase of this apartment community.
On the Map
$10,800,000
MultiFamily
View full map
Players
Hopkinsville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Tyler Mayo to view all their deals.
Browse Kentucky multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93