Updated Oct 29, 2024
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
About this deal
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
Frederick MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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