Updated Oct 29, 2024
Avanti Residential Acquires Multifamily Property In Lee's Summit, MO For $80M
789 Northwest Donovan Road Lee's Summit, Missouri 64086, Usa
$80,000,000
Units
308
Asset Type
MultiFamily
Closing
May 25, 2023
About this deal
AI
A multifamily property located at 789 Northwest Donovan Road in Lee's Summit, MO has been sold. The property consists of 308 units, with a per unit price of $259,740. The transaction took place on May 25, 2023, and the sale price was $80,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $80,000,000
- Address: 789 Northwest Donovan Road
- Market: Lee's Summit, MO
The buyer of the property was Avanti Residential, while the seller was NorthPoint Development. The broker representing the transaction was Newmark.
Players
Lee's Summi MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $259.7K per unit across 308 units on a published $80M (2023).
Browse Missouri multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93