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Expedition Capital Advisors Acquires Multifamily Property In Charlotte From Mesirow For $54.7M
SOLD
$54,700,000
+ 5
North Carolina
See Similar DealsMultiFamily
Sold
SOLD
Expedition Capital Advisors Acquires Multifamily Property In Charlotte From Mesirow For $54.7M
12400 Toscana Way
See Similar DealsMultiFamily
Sold
+ 5
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved a multifamily property located at 12400 Toscana Way in Charlotte, NC. The sale price of the asset was $54,700,000, which reflects a per unit price of $253,241 for the 216 units offered in the property.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $54,700,000
- Address: 12400 Toscana Way
- Market: Charlotte, NC
- Units: 216
- PPU: $253,241
- Buyer: Expedition Capital Advisors (ExCap)
- Seller: Mesirow
- Brokers: Allan Lynch, Andrea Howard, Austin Jackson, Cabell Thomas, Caylor Mark - NorthMarq
- Mortgage Brokers: Faron Thompson, Jeff Glenn & John Currin - NorthMarq
The transaction was supported by a team of experienced brokers from NorthMarq, highlighting the collaboration between various parties involved. Expedition Capital Advisors (ExCap) acted as the buyer, while Mesirow served as the seller in this closed transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,917,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$194,337.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$259,305.91
Annual Debt Service$3,111,670.88
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