facebook
Traded Co logo
Submit
Daily limit: 0/10

AIR Communities Acquires Flats 8300 Luxury Multifamily In Bethesda For $129.8M

Property Image
SOLD
$129,823,000

Maryland

See Similar Deals
MultiFamily
Sold 05/10/2024
the dealdetailscomps
Property Image
SOLD

AIR Communities Acquires Flats 8300 Luxury Multifamily In Bethesda For $129.8M

8300 Wisconsin Avenue

See Similar Deals
MultiFamily
Sold 05/10/2024

Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

Flats 8300, a luxury apartment complex located at 8300 Wisconsin Avenue in Bethesda, MD, was acquired by AIR Communities for $129,823,000. The property features 359 units, a 50,000-square-foot Harris Teeter, and amenities such as a rooftop pool and fitness center.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $129,823,000
  • Units: 359
  • Price Per Unit: $361,624
  • Market: Bethesda, MD
  • Buyer: AIR Communities - Josh Minix

AIR Communities, headed by Josh Minix, completed the acquisition of Flats 8300 in Bethesda, adding this luxurious property to their portfolio.

Details

SOLD
IMAGE: 05/10/2024 ADDRESS: 8300 Wisconsin Avenue MARKET: Bethesda. MD ASSET TYPE: Multifamily BUYER: AIR Communities - Josh Minix SALE PRICE: $129,823,000 UNITS: 359 ~ PPU: $361,624 NOTE: AIR Communities acquired Flats 8300, a luxury apartment complex in Bethesda, MD, for $129,823,000. The property, completed in 2016, boasts 359 units, a 50,000-square-foot Harris Teeter, and amenities including a rooftop pool and fitness center.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,923,893.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$461,233.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$615,427.25
Annual Debt Service$7,385,127.03