L&M Development Partners Acquires Property From KB Companies In Frederick For $24M
SOLD
$24,000,000
Maryland
See Similar DealsMultiFamily
Sold 01/20/2023
SOLD
L&M Development Partners Acquires Property From KB Companies In Frederick For $24M
1369 Hampshire Dr, Frederick, MD, 21...
See Similar DealsMultiFamily
Sold 01/20/2023
Summary
MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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