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Stoneweg U.S. LLC Acquires Multifamily Property In Charlotte For $90.9M

Property Image
SOLD
$90,900,000
Matt Behr
Austin Haney

North Carolina

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MultiFamily
Sold 06/23/2022
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Property Image
SOLD

Stoneweg U.S. LLC Acquires Multifamily Property In Charlotte For $90.9M

3750 Philemon Avenue, Charlotte, North Carolina 28206, United States

See Similar Deals
MultiFamily
Sold 06/23/2022
Matt Behr
Austin Haney
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 3750 Philemon Ave in Charlotte, NC has been sold in a recent transaction. The property consists of 298 units and was purchased by Stoneweg U.S. LLC for a total sale price of $90,900,000, translating to an average price per unit (PPU) of $305,033. The transaction was facilitated by brokers Austin Haney and Matt Behr from The Kirkland Co.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $90,900,000
  • Address: 3750 Philemon Ave, Charlotte, NC
  • Market: Charlotte, NC
  • Buyer: Stoneweg U.S. LLC
  • Seller: Neyland Apartment Associates
  • Brokers: Austin Haney & Matt Behr - The Kirkland Co
  • Units: 298
  • PPU: $305,033

The sale of the property was successfully negotiated with the involvement of Stoneweg U.S. LLC as the buyer and Neyland Apartment Associates as the seller. The transaction was facilitated by brokers Austin Haney and Matt Behr from The Kirkland Co.

Players

Austin Haney
The Kirkland Company
Austin Haney
1 deal$90.9M volume
BROKER
Matt Behr
Matt Behr
1 deal$90.9M volume
BROKER

Details

SOLD
IMAGE: Matt Behr & Austin Haney DATE: 06/23/2022 ADDRESS: 3750 Philemon Ave MARKET: Charlotte, NC ASSET TYPE: Multifamily BUYER: Stoneweg U.S. LLC SELLER: Neyland Apartment Associates BROKERS: Austin Haney & Matt Behr - The Kirkland Co SALE PRICE: $90,900,000 UNITS: 298 ~ PPU: $305,033

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

$4,848,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$322,948.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$430,912.38
Annual Debt Service$5,170,948.50