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
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.
Players
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