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TerraCap Management Acquires Morrisville Multifamily For $99.7M

Property Image
SOLD
$99,700,000

North Carolina

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MultiFamily
Sold 08/10/2022
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Property Image
SOLD

TerraCap Management Acquires Morrisville Multifamily For $99.7M

200 Wind River Parkway, Morrisville, North Carolina 27560, United States

See Similar Deals
MultiFamily
Sold 08/10/2022
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 200 Wind River Pkwy in Morrisville, NC has been sold in a closed transaction. The property consists of 346 units and was sold for a total price of $99,700,000, which equates to an average price per unit of $288,145. The sale was completed on 08/10/2022.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $99,700,000
  • Address: 200 Wind River Pkwy, Morrisville, NC
  • Market: Morrisville, NC
  • Buyer: TerraCap Management - Steve Good
  • Seller: Kettler
  • Units: 346
  • Price per Unit (PPU): $288,145

TerraCap Management, represented by Steve Good from their agency, finalized the purchase of the property from Kettler. The sale marks a significant transaction in the Morrisville market, demonstrating the continued interest in multifamily assets within the area.

Players

Steve Good
4 deals$264.1M volume
BUYER

SELLER

Details

SOLD
IMAGE: Steve Good DATE: 08/10/2022 ADDRESS: 200 Wind River Pkwy MARKET: Morrisville, NC ASSET TYPE: Multofamily BUYER: TerraCap Management - Steve Good SELLER: Kettler SALE PRICE: $99,700,000 UNITS: 346 ~ PPU: $288,145

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

$5,317,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$354,213.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$472,628.86
Annual Debt Service$5,671,546.37