Christopher Stout & Alex Roth Acquire Fayetteville Multifamily For $8.2M

Lakeshore Grande, a multifamily property located at 5508 Faith Drive in Fayetteville, NC, has recently been sold in a closed transaction. The property consists of 60 units with a total square footage of 69,240. The sale price for Lakeshore Grande was $8,200,000, resulting in a price per unit of $136,667 and a price per square foot of $118.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,200,000
• Units: 60
• Price per Unit: $136,667
• Square Footage: 69,240
• Price per Square Foot: $118
• Address: 5508 Faith Drive, Fayetteville, NC
• Market: Fayetteville, NC

The buyer in this transaction was Christopher Stout and Alex Roth, while the seller was the Floyd Family. It is worth noting that Lakeshore Grande was closed and facilitated with Large Life-Co debt fixed at 5.29% for a 5-year term with an interest-only period. This financing arrangement provided additional financial flexibility for the buyers, Christopher Stout and Alex Roth.