Crescent Communities Sells Multifamily Property In Charlotte, NC For $140M
SOLD
$140,000,000
North Carolina
See Similar DealsMultiFamily
Sold 09/16/2022
SOLD
Crescent Communities Sells Multifamily Property In Charlotte, NC For $140M
4015 Craft Street, Charlotte, North Carolina 28217, United States
See Similar DealsMultiFamily
Sold 09/16/2022
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 4015 Craft St in Charlotte, NC was sold on September 16, 2022. The property, owned by Crescent Communities, was sold for a total price of $140,000,000. The property consists of 344 units, with a price per unit of $406,977.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $140,000,000
- Units: 344
- Price Per Unit: $406,977
Crescent Communities acted as the seller in this transaction. The sale of the multifamily property in Charlotte, NC was a significant deal in the real estate market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$497,390.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$663,671.42
Annual Debt Service$7,964,057.10
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