ARCO Real Estate Co. Acquires Riverside Townhomes In Gibraltar For $17.1M
$17,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 11, 2024
AI
The Riverside Townhomes in Gibraltar, a Detroit suburb, have been sold for $17.1 million. The property, located at 14221 Park Street, consists of 136 units. The transaction was handled by Peter Jankowski and Rich Deptula of Friedman Real Estate, representing both the buyer, ARCO Real Estate Co., and the undisclosed seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,100,000
- Units: 136
- Price per Unit: $125,735
- Market: Gibraltar, Michigan
- Buyer: ARCO Real Estate Co.
- Brokers: Peter Jankowski & Rich Deptula - Friedman Real Estate
ARCO Real Estate Co. acquired the Riverside Townhomes in Gibraltar for $17.1 million, with the transaction overseen by Peter Jankowski and Rich Deptula from Friedman Real Estate. The deal involved the representation of both the buyer and the undisclosed seller, adding to the success of the property sale.
Players
Market 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93