Sherman Residential Sells Multifamily Asset At 7015 Skye Bridge Way In Charlotte For $66.75M
SOLD
$66,750,000
North Carolina
See Similar DealsMultiFamily250,000 SF
Sold 01/08/2025
SOLD
Sherman Residential Sells Multifamily Asset At 7015 Skye Bridge Way In Charlotte For $66.75M
7015 Skye Bridge Way
See Similar DealsMultiFamily250,000 SF
Sold 01/08/2025
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$267
Total Square Footage:250,000 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily complex located at 7015 Skye Bridge Way in Charlotte, NC. The transaction was completed for a price of $66,750,000, encompassing 266 units within a total square footage of 250,000. The price per unit is calculated at $250,939, and the price per square foot stands at $267.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,750,000
- Units: 266
- Square Footage: 250,000
- Price per Unit: $250,939
- Price per Square Foot: $267
- Buyer: Welltower, Inc.
- Seller: Sherman Residential
- Brokers: Jacob Vogel & Steve David - Rosewood Realty Group
Jacob Vogel and Steve David from Rosewood Realty Group represented the seller, Sherman Residential, in this transaction. The buyer, Welltower, Inc., is a well-known player in the real estate sector, particularly within the multifamily housing market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$237,148.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$316,429.05
Annual Debt Service$3,797,148.65
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