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9701 Summit Circle

FCP, Insight Property Group & AHC Acquire Multifamily Asset In Largo, MD For $71.9M
SOLDMultiFamily

FCP, Insight Property Group & AHC Acquire Multifamily Asset In Largo, MD For $71.9M

9701 Summit Circle

$71,900,000

Building Size

Asset Type

MultiFamily

Closing

Mar 25, 2022

AI

The multifamily property located at 9701 Summit Circle in Largo, Maryland has been sold. The property consists of 245 units and was sold by Camden Property Trust to FCP, Insight Property Group, and AHC. The transaction was facilitated by brokers Chris Doerr and Will Harvey of Walker & Dunlop. The sale price for the property was $71,900,000, resulting in a per unit price of $293,469.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $71,900,000
  • Units: 245
  • Price per Unit (PPU): $293,469
FCP, Insight Property Group, and AHC have successfully acquired the multifamily property at 9701 Summit Circle in Largo, Maryland from Camden Property Trust. The transaction was facilitated by brokers Chris Doerr and Will Harvey, representing Walker & Dunlop. This deal marks a significant investment in the Largo real estate market.

Players

Walker & Dunlop
Walker & DunlopBrokerage
FCP
FCPBuyer
A
AHCBuyer
CT
Camden Property TrustSeller

Upper Marlboro MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93