Updated Oct 28, 2024
Bainbridge Companies Acquires Multifamily Property In Cary, NC For $111M
1010 Legacy Village Dr, Cary, North Carolina 27518, United States
$111,000,000
Units
344
Asset Type
MultiFamily
Closing
Aug 29, 2022
About this deal
AI
The multifamily property located at 1010 Legacy Village Dr in Cary, NC was recently sold in a transaction. The property consists of 344 units, with each unit valued at an average of $322,674. The total sale price for the property was $111,000,000. The buyer in this transaction was Bainbridge Companies of Wellington, while the seller was Boston Capital Real Estate Partners.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $111,000,000
- Units: 344
- Price Per Unit: $322,674
- Buyer: Bainbridge Companies of Wellington
- Seller: Boston Capital Real Estate Partners
This transaction highlights the involvement of Bainbridge Companies of Wellington as the buyer and Boston Capital Real Estate Partners as the seller. The deal represents a significant investment in the multifamily market in Cary, NC.
On the Map
$111,000,000
MultiFamily
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Players
Cary 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93