Syndicated Equities Sells Multifamily Property In Ada, Michigan For $71.5M
SOLD
$71,500,000
Michigan
See Similar DealsMultiFamily
Sold 07/12/2022
SOLD
Syndicated Equities Sells Multifamily Property In Ada, Michigan For $71.5M
330 Stone Falls Dr SE, Forest Hills, Michigan 49301, United States
See Similar DealsMultiFamily
Sold 07/12/2022
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 330 Stone Falls Dr in Ada, Michigan has been sold by Syndicated Equities. The sale took place on 07/12/2022 for a total price of $71,500,000. The property consists of 210 units, resulting in a per unit price of $340,476.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,500,000
- Address: 330 Stone Falls Dr, Ada, Michigan
- Market: Ada, Michigan
- Seller: Syndicated Equities
- Units: 210
- Price per Unit: $340,476
In this transaction, Syndicated Equities represented themselves as the seller of the property.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$254,024.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$338,946.48
Annual Debt Service$4,067,357.73
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