Bainbridge Companies Acquires Multifamily Property In Cary, NC For $111M
SOLD
$111,000,000
North Carolina
See Similar DealsMultiFamily
Sold 08/30/2022
SOLD
Bainbridge Companies Acquires Multifamily Property In Cary, NC For $111M
1010 Legacy Village Dr, Cary, North Carolina 27518, United States
See Similar DealsMultiFamily
Sold 08/30/2022
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,920,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$394,359.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$526,196.63
Annual Debt Service$6,314,359.55
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