Champion Real Estate Co. Acquires Syracuse Student Housing Portfolio For $65M
SOLD
$65,000,000
New York
See Similar DealsSold
SOLD
Champion Real Estate Co. Acquires Syracuse Student Housing Portfolio For $65M
Syracuse, New York, United States
See Similar DealsSold
Summary
NEW YORK
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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