Invesco Real Estate Investment Trust Acquires Multifamily Property In Roseland For $160.5M
28 Nob Hill Rd, Roseland, NJ 07068
$160,500,000
$417/SF
Building Size
384,480 SF
Asset Type
MultiFamily
Closing
May 3, 2022
AI
The multifamily property located at 28 Nob Hill Road in Roseland has been sold for a sale price of $160,500,000. The property spans over 36 acres and consists of 360 units, with an average price per unit of $445,833. The total square footage of the property is 384,480 square feet, resulting in an average price per square foot of $417.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $160,500,000
- Address: 28 Nob Hill Road, Roseland
- Market: Roseland
- Units: 360
- Price per Unit: $445,833
- Total Square Footage: 384,480 square feet
- Price per Square Foot: $417
The buyer in this transaction is Invesco Real Estate Investment Trust, represented by R. Scott Dennis. The seller is Roseland Residences Investors LLC.
Roseland 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93