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David Weekley Homes, Toll Brothers & Saussy Burbank Acquire Land In Charlotte For $19.2M From Crescent Communities
SOLD
$19,200,000
North Carolina
See Similar DealsLand
Sold 09/04/2025
SOLD
David Weekley Homes, Toll Brothers & Saussy Burbank Acquire Land In Charlotte For $19.2M From Crescent Communities
8311 Dixie River Road
See Similar DealsLand
Sold 09/04/2025
Summary
NORTH CAROLINA
Asset Type:Land
Transaction Type:Sale
The transaction involved the sale of land located at 8311 Dixie River Road in Charlotte, NC. This asset type is classified as land, and it was sold for a total of $19,200,000. The sale included 103 home lots within The River District in west Charlotte.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $19,200,000
- Buyer: David Weekley Homes, Toll Brothers & Saussy Burbank
- Seller: Crescent Communities
- Note: 37 more lots are set to go to DRB Homes.
The buyers of the property include noted home builders David Weekley Homes, Toll Brothers, and Saussy Burbank, while the seller is Crescent Communities. This strategic sale involved a total of 103 lots, showcasing a collaborative effort among the three buyers for development in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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