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DRA Advisors Acquires Multifamily Asset From GFI Capital Group For $79M In Canton

Property Image
SOLD
$79,000,000
Zachary Fuchs
Yosef Katz
Shlomo Antebi

Michigan

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MultiFamily948,680 SF
Sold 04/17/2019
the dealplayerscompscontact
Property Image
SOLD

DRA Advisors Acquires Multifamily Asset From GFI Capital Group For $79M In Canton

4900 Denton Road

See Similar Deals
MultiFamily948,680 SF
Sold 04/17/2019
Zachary Fuchs
Yosef Katz
Shlomo Antebi
the dealplayerscompscontact
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Summary

MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$83
Total Square Footage:948,680 SF
Transaction Type:Sale

The property asset involved in this transaction is a MultiFamily asset located at 4900 Denton Road in the Canton market. The sale was completed at a price of $79,000,000.00 with a total square footage of 948,680.0.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $79,000,000.00
  • Address: 4900 Denton Road
  • Market: Canton
  • Square Footage: 948,680.0
  • Buyer: DRA Advisors
  • Seller: GFI Capital Group/Allen Gross
  • Brokers: Zach Fuchs, Shlomo Antebi (Atlas Realty Group), Yosef Katz (Atlas Realty Group)

This transaction involved several key individuals and companies. DRA Advisors acted as the buyer, while GFI Capital Group, represented by Allen Gross, served as the seller. The brokers facilitating the deal were Zach Fuchs, Shlomo Antebi, and Yosef Katz, all contributing to the successful completion of this transaction.

Players

Yosef Katz
Atlas Realty Group
Yosef Katz
134 deals$1.1B volume
BROKER
Shlomo Antebi
Atlas Realty Group
Shlomo Antebi
139 deals$1B volume
BROKER
Zachary Fuchs
GFI Realty Services
Zachary Fuchs
62 deals$322.8M volume
BROKER
GFI Realty Services
GFI Realty Services
BROKERAGE
DRA Advisors
DRA Advisors
BUYER
GG
GFI Capital Group/Allen Gross
SELLER

Details

SOLD
IMAGE: 04/17/2019 ADDRESS: 4900 Denton Road MARKET: Canton ASSET TYPE: MultiFamily BROKERS: Zach Fuchs(), Shlomo Antebi(Atlas Realty Group), Yosef Katz(Atlas Realty Group) BUYER: DRA Advisors SELLER: GFI Capital Group/Allen Gross PRICE: $79,000,000.00 SF: 948680.0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,213,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$280,670.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$374,500.30
Annual Debt Service$4,494,003.65