Starwood Capital Acquires 648-Unit Multifamily Property In Gaithersburg, MD For $204M
SOLD
$204,000,000
Maryland
See Similar DealsMultiFamily370,422 SF
Sold 12/22/2021
SOLD
Starwood Capital Acquires 648-Unit Multifamily Property In Gaithersburg, MD For $204M
9806 Mahogany Drive, Gaithersburg, Maryland 20878, United States
See Similar DealsMultiFamily370,422 SF
Sold 12/22/2021
Summary
MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$550
Total Square Footage:370,422 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,879,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$724,768.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$967,064.08
Annual Debt Service$11,604,768.91
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