Champion Real Estate Co. Acquires Syracuse Student Housing Portfolio For $65M
Syracuse, New York, United States
$65,000,000
Building Size
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Asset Type
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Closing
Mar 31, 2022
AI
The Student Housing portfolio in Syracuse has been sold for a staggering $65,000,000. The portfolio consists of multiple properties catering to the student housing market.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $65,000,000
The buyer of the portfolio is Champion Real Estate Co., a prominent real estate company. The transaction was facilitated by Ken Wellar and Douglas Sitt from Rittenhouse Realty Advisors, who represented the buyer in this deal.
Players
City of Syracuse CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93