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3301 West Esplanade Avenue ...

Onyx Partners Acquires 336-Unit Multifamily Property In Metairie For $55.8M
FINANCEDMultiFamily

Onyx Partners Acquires 336-Unit Multifamily Property In Metairie For $55.8M

3301 West Esplanade Avenue North, Metairie, Louisiana 70002, United States

$55,800,000

Building Size

Asset Type

MultiFamily

Closing

Jul 18, 2022

AI

On July 19, 2022, a closed property transaction took place at 3301 West Esplanade Avenue North in Metairie. The property is a 7.34-acre multifamily asset comprising a total of 336 units. The transaction involved the acquisition of the property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $55,800,000
  • Address: 3301 West Esplanade Avenue North
  • Market: Metairie
  • Asset Size: 7.34 acres
  • Number of Units: 336

The landlord in this transaction was Onyx Partners. The brokers involved in the deal were Mike Kemether, Christian Schedler, Larry Schedler, and Cheryl Short from Cushman & Wakefield, as well as Judah Rosenberg from greystone''>greystone'>Greystone.

These key individuals and companies played a crucial role in facilitating the acquisition of the multifamily property at 3301 West Esplanade Avenue North in Metairie.

Players

Mike Kemether

Cushman & Wakefield

Broker

$159.6M

vol

3 deals

Broker
Greystone
GreystoneBrokerage
Greystone
GreystoneLender

Metairie MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93