HHHunt Acquires Multifamily Property In Charlotte For $91M
SOLD
$91,000,000
North Carolina
See Similar DealsMultiFamily
Sold 11/17/2022
SOLD
HHHunt Acquires Multifamily Property In Charlotte For $91M
2120 North Brevard Street, Charlotte, North Carolina 28206, United States
See Similar DealsMultiFamily
Sold 11/17/2022
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2120 North Brevard St in Charlotte, N.C has been sold in a transaction on 11/17/2022. The property consists of 261 units, with a price per unit (PPU) of $348,659. The sale price for the property was $91,000,000, making it a significant transaction in the multifamily market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $91,000,000
- Address: 2120 North Brevard St, Charlotte, N.C
- Market: Charlotte, N.C
- Buyer: HHHunt
- Seller: Knightvest Residential
- Broker: JLL Capital Markets
- Units: 261
- Price per Unit (PPU): $348,659
JLL Capital Markets represented the buyer and seller, HHHunt and Knightvest Residential respectively, in this transaction. The involvement of JLL Capital Markets showcases their expertise in facilitating multimillion-dollar property sales. This transaction highlights the robust real estate market in Charlotte, N.C, attracting reputable buyers and sellers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,853,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$323,303.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$431,386.43
Annual Debt Service$5,176,637.11
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