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3930 Suitland Rd, Morningsi...

Castle Lanterra Properties Acquires Property In Suitland For $52 Million With Transwestern's Representation
SOLDMultiFamily

Castle Lanterra Properties Acquires Property In Suitland For $52 Million With Transwestern's Representation

3930 Suitland Rd, Morningside, MD, 2...

$52,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 24, 2019

AI

The property involved in the transaction is located at 3930 Suitland Rd, Morningside, MD, within the Suitland market. The transaction price was $52,000,000.00, and the property has a square footage of 0.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $52,000,000.00
  • Address: 3930 Suitland Rd, Morningside, MD
  • Market: Suitland
  • Seller's Representative: Justin Shay, Dean Sigmon - Transwestern
  • Buyer: Castle Lanterra Properties

This transaction involved key individuals including Justin Shay and Dean Sigmon, who represented the seller. Castle Lanterra Properties was the buyer in this deal, facilitating the sale in the Suitland market area.

Players

Dean Sigmon

Transwestern

Broker

$647.5M

vol

12 deals

Broker
Castle Lanterra Properties
Castle Lanterra PropertiesBuyer

Suitland 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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93