Updated Dec 4, 2024
Starwood Capital Acquires 648-Unit Multifamily Property In Gaithersburg, MD For $204M
9806 Mahogany Drive, Gaithersburg, Maryland 20878, United States
$204,000,000
$550/SF
Building Size
370,422 SF
Asset Type
MultiFamily
Closing
Dec 21, 2021
About this deal
AI
The multifamily property located at 9806 Mahogany Dr. in Gaithersburg, MD has been sold for a transaction amount of $204,000,000. The property consists of 648 units, with a price per unit of $314,815. The total square footage of the property is 370,422, with a price per square foot of $551.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $204,000,000
- Address: 9806 Mahogany Dr., Gaithersburg, MD
- Market: Gaithersburg, MD
- Buyer: Starwood Capital
- Seller: Grosvenor Americas - Michael Beattie
- Broker: Christine Espenshade - Newmark
Starwood Capital has acquired the multifamily property at 9806 Mahogany Dr. from Grosvenor Americas, represented by Michael Beattie. The deal was facilitated by Christine Espenshade of Newmark.
Players
Gaithersburg 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93