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Aldon Management Corp Acquires Multifamily In Fuquay-Varina, NC For $129.3M

Property Image
SOLD
$129,300,000
Thomas Colaiezzi
Jourdan Sullivan
+ 3

North Carolina

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MultiFamily
Sold 08/02/2022
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Property Image
SOLD

Aldon Management Corp Acquires Multifamily In Fuquay-Varina, NC For $129.3M

141 Stobhill Ln Fuquay-Varina, NC 27526, USA

See Similar Deals
MultiFamily
Sold 08/02/2022
Thomas Colaiezzi
Jourdan Sullivan
+ 3
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 141 Stobhill Ln in Fuquay-Varina, NC has been sold for a price of $129,300,000. The property consists of 384 units, resulting in a per unit price of $336,719.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $129,300,000
  • Address: 141 Stobhill Ln, Fuquay-Varina, NC
  • Market: Fuquay-Varina, NC
  • Units: 384
  • Price Per Unit: $336,719

The buyer of the property is Aldon Management Corp, while the seller is Signature Property Group. The transaction was facilitated by a team of brokers including Alex McDermott, Austin Green, Caleb Troop, Thomas Colaiezzi, Jourdan Sullivan, and Travis Cundiff from Capstone Apartment Partners.

Players

Alex McDermott
4 deals$217.5M volume
BROKER

Austin Green
Cushman & Wakefield
4 deals$193.8M volume
BROKER

Caleb Troop
Berkadia
8 deals$495.8M volume
BROKER

Thomas Colaiezzi
Berkadia
7 deals$464.8M volume(704) 565-9391
BROKER

Jourdan Sullivan
Capstone Companies
2 deals$171.2M volume
BROKER

Travis Cundiff
Capstone Companies
2 deals$171.2M volume
BROKER

Details

SOLD
IMAGE: Alex McDermott, Austin Green, Thomas Colaiezzi & Jourdan Sullivan DATE: 08/02/2022 ADDRESS: 141 Stobhill Ln MARKET: Fuquay-Varina, NC ASSET TYPE: Multifamily BUYER: Aldon Management Corp SELLER: Signature Property Group BROKERS: Alex McDermott, Austin Green, Caleb Troop, Thomas Colaiezzi, Jourdan Sullivan & Travis Cundiff - Capstone Apartment Partners SALE PRICE: $129,300,000 UNITS: 384 ~ PPU: $336,719

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,895,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$459,375.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$612,947.97
Annual Debt Service$7,355,375.59