Updated Oct 29, 2024
Urban Atlantic Acquires Property From FCA For $44M With Christine Espenshade Of Newmark As Buyer's Rep
5521 Marlboro Pike, District Heights...
$44,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
About this deal
AI
The property asset involved in the transaction is located at 5521 Marlboro Pike, District Heights. The sale price for this asset is $44,000,000.00. The total square footage of the property is not specified. This transaction takes place within the District Heights market.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $44,000,000.00
- Buyer: Urban Atlantic
- Seller: FCA
- Buyer's Representative: Christine Espenshade-Newmark
- Address: 5521 Marlboro Pike, District Heights
Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of Urban Atlantic. The deal also includes a joint venture with Federal Capital Partners, and it involves the acquisition of two apartment assets in the metro Washington, D.C. area, which have a combined total of 449 apartment units.
Players
District Heights 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93