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1369 Hampshire Dr, Frederic...

L&M Development Partners Acquires Property From KB Companies In Frederick For $24M
SOLDMultiFamily

L&M Development Partners Acquires Property From KB Companies In Frederick For $24M

1369 Hampshire Dr, Frederick, MD, 21...

$24,000,000

Building Size

Asset Type

MultiFamily

Closing

Jan 20, 2023

AI

The property involved in the transaction is located at 1369 Hampshire Dr, Frederick, MD. The sale price is $24,000,000.00 and the property is situated in the Frederick market. The square footage of the property is not provided.

Summary of transaction details:

  • Property Type: SALE
  • Transaction Amount: $24,000,000.00
  • Seller: KB Companies
  • Buyer: L+M Development Partners
  • Seller's Representative: Henry Mathies - Greysteel

This transaction was facilitated by Henry Mathies, who represented the seller, KB Companies. The buyer in this deal is L+M Development Partners, indicating a direct engagement in the property market in Frederick.

Players

Henry Mathies

Greysteel

Broker

$112.1M

vol

3 deals

Broker
L+M Development Partners
L+M Development PartnersBuyer

Frederick MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.66%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93