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McDowell Properties Acquires 216-unit South Tryon Apartments From MAA For $41.8 Million
SOLD
$41,800,000
+ 3
North Carolina
See Similar DealsMultiFamily
Sold
SOLD
McDowell Properties Acquires 216-unit South Tryon Apartments From MAA For $41.8 Million
7601 Holliswood Court
See Similar DealsMultiFamily
Sold
+ 3
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved the sale of a multifamily asset located at 7601 Holliswood Court in Charlotte, NC. The property comprises 216 units and the sale was finalized for $41,800,000, resulting in a price per unit of $193,519.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $41,800,000
- Units: 216
- Price Per Unit: $193,519
- Buyer: McDowell Properties
- Seller: MAA
- Brokers: Allan Lynch, Andrea Howard, Austin Jackson, Caylor Mark, Jeff Glenn & John Currin - NorthMarq
NorthMarq represented MAA in this transaction, facilitating the sale to McDowell Properties. The brokerage team played a significant role in handling the complexities of the deal, ensuring a smooth transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$148,506.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$198,153.33
Annual Debt Service$2,377,839.90
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