Updated Oct 28, 2024
Magma Equities Acquires 240-Unit Multifamily Property In Raleigh, NC For $83M
Dowd Forest Drive, Raleigh, North Carolina 27615, United States
$83,000,000
$3,293/SF
Building Size
25,200 SF
Asset Type
MultiFamily
Closing
Jun 19, 2022
About this deal
AI
The multifamily property located at 6320 Dowd Forest Dr in Raleigh, NC has been sold for a transaction amount of $83,000,000. This property consists of 240 units, resulting in a per unit price of $345,833.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $83,000,000
- Units: 240
- Price Per Unit: $345,833
The buyer in this transaction is Magma Equities, represented by Ryan Hall and Chris Herrlinger.
The multifamily sale at Dowd Forest Drive, Raleigh, North Carolina 27615, United States in Raleigh, North Carolina sold for $83M in 2022. Reported inventory is 25,200 square feet across 240 units, or about 3.3K per square foot. Named participants on the Dowd Forest Drive, Raleigh, North Carolina 27615, United States sale are Ryan Hall, Chris Herrlinger. This page is the Raleigh, North Carolina file for the Dowd Forest Drive, Raleigh, North Carolina 27615, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Raleigh sit in the Market section below. Filter that Raleigh multifamily set by closing date to see what else sold near Dowd Forest Drive, Raleigh, North Carolina 27615, United States around 2022. Published consideration for Dowd Forest Drive, Raleigh, North Carolina 27615, United States is $83M, dated 2022. Cite this Magma Equities Acquires 240-Unit Multifamily Property In Raleigh, NC For $83M sale when underwriting similar multifamily product around Raleigh, North Carolina.
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Raleigh 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93