Updated Dec 30, 2024
TriWest Multifamily Acquires 4616 Stoney Trace Drive Multifamily Asset For $59.8M
4616 Stoney Trace Drive
$59,800,000
$155/SF
Building Size
384,000 SF
Asset Type
MultiFamily
Closing
Dec 30, 2024
About this deal
AI
The asset involved in this transaction is a multifamily property located at 4616 Stoney Trace Drive in the Charlotte, NC market. The sale price was $59,800,000, with a total of 380 units. The property encompasses a total square footage of 384,000, resulting in a price per unit of $157,368 and a price per square foot of $155.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $59,800,000
- Units: 380
- Square Footage: 384,000
- Price Per Unit: $157,368
- Price Per Square Foot: $155
- Buyer: TriWest Multifamily
- Seller: Bridge Investment Group
- Broker Representatives: Jonathan Brody, Michael Schattner & Shlomo Mansbach - Base Realty Group
This transaction involved significant representation from the brokerage firm Base Realty Group, with Jonathan Brody, Michael Schattner, and Shlomo Mansbach playing key roles in facilitating the deal between TriWest Multifamily and Bridge Investment Group.
On the Map
$59,800,000
$155/SF
MultiFamily
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Players
Mint Hill 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93