Updated Dec 4, 2024
Knightvest Residential Acquires Stillwater Apartments In Charlotte For $39.2M
8242 Runaway Bay Drive
$39,200,000
Units
20
Asset Type
MultiFamily
Closing
Dec 12, 2023
About this deal
AI
Knightvest Residential, represented by David Moore of Knightvest Residential, has acquired the Stillwater Apartments in Charlotte, North Carolina. The multifamily property, located at 8242 Runaway Bay Drive, was purchased from Stone Cutter Capital Management for a total price of $39.2 million. The transaction took place on 12/12/2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,200,000
- Address: 8242 Runaway Bay Drive, Charlotte, NC
- Market: Charlotte, NC
- Buyer: David Moore - Knightvest Residential
- Seller: Scott Zucker - Stone Cutter Capital Management
- Units: 20
- Price Per Unit (PPU): $1,960,000
The Stillwater Apartments in Charlotte, North Carolina, have been acquired by Knightvest Residential for $39.2 million. Represented by David Moore of Knightvest Residential, the buyer completed the transaction with Scott Zucker of Stone Cutter Capital Management. This acquisition marks an important addition to Knightvest Residential's multifamily portfolio.
On the Map
$39,200,000
MultiFamily
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Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $2M per unit across 20 units on a published $39.2M (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93