Urban Atlantic Acquires Property From FCA For $44M With Christine Espenshade Of Newmark As Buyer's Rep
SOLD
$44,000,000
Maryland
See Similar DealsMultiFamily
SOLD
Urban Atlantic Acquires Property From FCA For $44M With Christine Espenshade Of Newmark As Buyer's Rep
5521 Marlboro Pike, District Heights...
See Similar DealsMultiFamily
Summary
MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale
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
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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