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Equus Capital Partners Acquires Three Multifamily Properties In Raleigh, NC For $66.65M

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SOLD
$66,650,000
Steve Comly
Kippy Donovan

North Carolina

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MultiFamily
Sold 02/01/2024
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SOLD

Equus Capital Partners Acquires Three Multifamily Properties In Raleigh, NC For $66.65M

561 Bridle Ridge Lane, 100 Hunt Club Lane & 3111 Long Meadow Court

See Similar Deals
MultiFamily
Sold 02/01/2024
Steve Comly
Kippy Donovan
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

Equus Capital Partners has reacquired three North Carolina apartment complexes—Madison Hunters Glen (180 units), Laurel Springs (122 units), and Laurel Oaks (164 units)—for a total of $66.65 million. The properties are located at 561 Bridle Ridge Lane, 100 Hunt Club Lane, and 3111 Long Meadow Court in Raleigh, NC. The multifamily assets were sold in a transaction that closed on February 1, 2024.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $66,650,000
  • Buyer: Daniel M. DiLella, Jr - Equus Capital Partners
  • Mortgage Brokers: Kippy Donovan & Steve Comly - Newmark

Equus Capital Partners, represented by Daniel M. DiLella, Jr, acquired the three multifamily properties located in Raleigh, NC. The deal was facilitated by mortgage brokers Kippy Donovan and Steve Comly from Newmark. The transaction, which closed on the 1st of February 2024, marked the successful reacquisition of the Madison Hunters Glen, Laurel Springs, and Laurel Oaks complexes, totaling 466 units, for a combined price of $66.65 million.

Players

Steve Comly
Newmark
Steve Comly
3 deals$304.3M volume(267) 603-8499
BROKER
Kippy Donovan
Newmark
Kippy Donovan
2 deals$286.7M volume(267) 606-0839
BROKER

Details

SOLD
IMAGE: Daniel M. DiLella, Jr, Kippy Donovan & Steve Comly DATE: 02/01/2024 ADDRESS: 561 Bridle Ridge Lane, 100 Hunt Club Lane & 3111 Long Meadow Court MARKET: Raleigh, NC ASSET TYPE: Multifamily BUYER: Daniel M. DiLella, Jr - Equus Capital Partners MORTGAGE BROKERS: Kippy Donovan & Steve Comly - Newmark SALE PRICE: $66,650,000 NOTE: Equus Capital Partners has reacquired three North Carolina apartment complexes—Madison Hunters Glen (180 units), Laurel Springs (122 units), and Laurel Oaks (164 units)—for a total of $66.65 million.

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

$3,554,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$236,793.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$315,955.00
Annual Debt Service$3,791,460.04