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Woodmont Properties Sells 120-Unit Multifamily Woodmont Liberty Apartments In Independence Township For $42.95M
SOLD
$42,950,000
New Jersey
See Similar DealsMultiFamily
Sold 07/16/2025
SOLD
Woodmont Properties Sells 120-Unit Multifamily Woodmont Liberty Apartments In Independence Township For $42.95M
2000 Woodmont Dr
See Similar DealsMultiFamily
Sold 07/16/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved the sale of the Woodmont Liberty Apartments, a multifamily asset comprising 120 units located at 2000 Woodmont Drive in Independence Township. The property was sold for $42,950,000, which translates to a price per unit of $357,917. The asset is classified as Class A and was built in 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,950,000
- Units: 120
- Address: 2000 Woodmont Drive
- Market: Independence Township
- Price Per Unit: $357,917
- Seller: Eric Witmondt - Woodmont Properties
- Broker Representatives: Steve Tragash & Greg Pine - SAGE Investment Real Estate Advisors
SAGE Investment Real Estate Advisors facilitated the transaction by sourcing the buyer and represented the seller, Woodmont Properties. This deal marks the fourth collaboration between SAGE and Woodmont, showcasing their ongoing partnership in real estate transactions.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,290,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,592.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,604.91
Annual Debt Service$2,443,258.94
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