Four Corners Development Group Acquires Multifamily In Harvey For $65M
SOLD
$65,000,000
Louisiana
See Similar DealsMultiFamily331,812 SF
Sold 03/15/2024
SOLD
Four Corners Development Group Acquires Multifamily In Harvey For $65M
1499 Central Park Blvd
See Similar DealsMultiFamily331,812 SF
Sold 03/15/2024
Summary
LOUISIANA
Asset Type:MultiFamily
Price Per Square Foot:$195
Total Square Footage:331,812 SF
Transaction Type:Sale
The multifamily property located at 1499 Central Park Blvd in Harvey, LA, was sold for $65,000,000. The property encompasses 360 units with a price per unit of $180,556. The total square footage of the property is 331,812 square feet, resulting in a price per square foot of $196.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Units: 360
- Price Per Unit: $180,556
- Square Footage: 331,812
- Price Per Square Foot: $196
- Address: 1499 Central Park Blvd
- Market: Harvey, LA
Albert Elmore from Colliers represented the buyer, Four Corners Development Group, in the transaction, while the seller, Stoa Group, was represented by their broker Albert Elmore as well.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
Is there something missing? Send suggestions