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RailField Partners And L&M Development Partners Acquire Multifamily Property On Hampshire Drive In Frederick For $24M

Property Image
SOLD
$24,000,000

Maryland

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MultiFamily
Sold 01/20/2023
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Property Image
SOLD

RailField Partners And L&M Development Partners Acquire Multifamily Property On Hampshire Drive In Frederick For $24M

1369 Hampshire Drive, Frederick, MD 21702

See Similar Deals
MultiFamily
Sold 01/20/2023
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property at 1369 Hampshire Drive in Frederick, MD has been sold for a total price of $24,000,000. The property consists of 113 units, resulting in a per unit price of $212,389. The sale was completed on January 20, 2023.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $24,000,000
  • Address: 1369 Hampshire Drive, Frederick, MD
  • Units: 113
  • Price Per Unit: $212,389

The buyers of the property were RailField Partners, represented by Jon Siegel, and L+M Development Partners. The sellers were KB Companies. Fletcher Hultman from Greysteel served as the broker in this transaction.

Players

Fletcher Hultman
Greysteel
Fletcher Hultman
2 deals$24M volume(202) 839-3485
BROKER
L+M Development Partners
L+M Development Partners
BUYER
RP
RailField Partners
BUYER
KC
KB Companies
SELLER

Details

SOLD
IMAGE: Fletcher Hultman DATE: 01/20/2023 ADDRESS: 1369 Hampshire Drive MARKET: Frederick, MD ASSET TYPE: Multifamily BUYER: RailField Partners - Jon Siegel & L+M Development Partners SELLER: KB Companies BROKER: Fletcher Hultman - Greysteel SALE PRICE: $24,000,000 UNITS: 113 ~ PPU: $212,389

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Deal Type
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