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

Property Image
SOLD
$52,000,000
Justin Shay
Dean Sigmon

Maryland

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MultiFamily
Sold 09/24/2019
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Property Image
SOLD

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

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

See Similar Deals
MultiFamily
Sold 09/24/2019
Justin Shay
Dean Sigmon
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

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
Dean Sigmon
12 deals$647.5M volume
BROKER
Justin Shay
Transwestern
Justin Shay
11 deals$532.5M volume
BROKER
Castle Lanterra Properties
Castle Lanterra Properties
BUYER

Details

SOLD
IMAGE: 3930 Suitland Rd, Morningside, MD, 2... MARKET: Suitland SELLER'S REP: Justin Shay, Dean Sigmon -Transwestern BUYER: Castle Lanterra Properties PRICE: $52,000,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,773,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35