Updated Oct 28, 2024
Stoneweg U.S. LLC Acquires Multifamily Property In Charlotte For $90.9M
3750 Philemon Avenue, Charlotte, North Carolina 28206, United States
$90,900,000
Units
298
Asset Type
MultiFamily
Closing
Jun 22, 2022
About this deal
AI
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.
On the Map
$90,900,000
MultiFamily
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Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93