Magma Equities Acquires 240-Unit Multifamily Property In Raleigh, NC For $83M
SOLD
$83,000,000
North Carolina
See Similar DealsMultiFamily25,200 SF
Sold 06/20/2022
SOLD
Magma Equities Acquires 240-Unit Multifamily Property In Raleigh, NC For $83M
Dowd Forest Drive, Raleigh, North Carolina 27615, United States
See Similar DealsMultiFamily25,200 SF
Sold 06/20/2022
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$3,293
Total Square Footage:25,200 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$294,881.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$393,462.34
Annual Debt Service$4,721,548.14
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