Updated Dec 4, 2024
Peterson Companies Acquires Huntington At King Farm Multifamily In Rockville For $135.5M
801 Elmcroft Boulevard
$135,500,000
Units
402
Asset Type
MultiFamily
Closing
Sep 27, 2023
About this deal
AI
Peterson Companies has expanded its Washington, D.C., portfolio with the acquisition of the 402-unit multifamily community known as Huntington at King Farm in Rockville, Maryland. The property, located at 801 Elmcroft Boulevard, was purchased for $135.5 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $135,500,000
- Address: 801 Elmcroft Boulevard, Rockville, MD
- Market: Rockville, MD
- Units: 402
- Price Per Unit (PPU): $337,065
Jon M. Peterson, representing Peterson Companies, served as the buyer in this transaction. The acquisition marks a significant addition to Peterson Companies' Washington, D.C., portfolio.
Players
Rockville 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93