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Grosvenor Acquires Multifamily Property In North Bethesda For $95M

Property Image
SOLD
$95,000,000

Maryland

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MultiFamily
Sold 07/20/2022
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Property Image
SOLD

Grosvenor Acquires Multifamily Property In North Bethesda For $95M

10301 Grosvenor Place, North Bethesda, Maryland 20852, United States

See Similar Deals
MultiFamily
Sold 07/20/2022
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 10301 Grosvenor Place in North Bethesda, MD, has been sold in a recent transaction. The property, comprising 237 units, was purchased by Grosvenor - Scott Brody for a total sale price of $95,000,000. This translates to an average price per unit (PPU) of $400,844.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $95,000,000
  • Address: 10301 Grosvenor Place, North Bethesda, MD
  • Market: North Bethesda, MD

Brian Crivella and Walter Coker of Berkadia represented the buyer, Grosvenor - Scott Brody, in the transaction. The seller was AvalonBay Communities. The deal was facilitated by brokers Brian Crivella and Walter Coker.

Players

Brian Crivella
17 deals$1.8B volume
BROKER

Walter Coker
Berkadia
4 deals$401.7M volume
BROKER

AvalonBay Communities
SELLER

Details

SOLD
IMAGE: Brian Crivella, Scott Brody & Walter Coker DATE: 07/20/2022 ADDRESS: 10301 Grosvenor Place MARKET: North Bethesda, MD ASSET TYPE: Multifamily BUYER: Grosvenor - Scott Brody SELLER: AvalonBay Communities BROKERS: Brian Crivella & Walter Coker - Berkadia SALE PRICE: $95,000,000 UNITS: 237 ~ PPU: $400,844

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$337,514.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$450,348.47
Annual Debt Service$5,404,181.60