Atlantic Pacific Acquires Lake Elsinore Multifamily From Weidner Apartment Homes For $64.5M
2088 E Lakeshore Dr
$64,500,000
Units
64,500,000
Asset Type
—
Closing
Aug 30, 2022
About this deal
AI
The multifamily property located at 2088 E Lakeshore Dr in Lake Elsinore has been sold for a price of $64,500,000. The property consists of 184 units with an average price per unit of $350,543. The total square footage of the property is 168,728, resulting in a price per square foot of $382.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,500,000
- Units: 184
- Price Per Unit: $350,543
- Square Footage: 168,728
- Price Per Square Foot: $382
The buyer in this transaction is Atlantic Pacific, while the seller is Weidner Apartment Homes. The deal was facilitated by Kyle Pinkalla from Northmarq acting as the broker.
On the Map
$64,500,000
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Players
Baton Rouge CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93