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Bell Partners Acquires Vintage Jones Franklin Multifamily In Raleigh For $79.5M
SOLD
$79,500,000
North Carolina
See Similar DealsMultiFamily
Sold 08/17/2023
SOLD
Bell Partners Acquires Vintage Jones Franklin Multifamily In Raleigh For $79.5M
930 Vintage Jones Way Raleigh, North Carolina 27606, USA
See Similar DealsMultiFamily
Sold 08/17/2023
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
Bell Partners has acquired Vintage Jones Franklin, a 279-unit multifamily community located at 930 Vintage Jones Way in Raleigh, North Carolina. The property was purchased from TDK Construction for a total of $79.5 million.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $79,500,000
- Address: 930 Vintage Jones Way, Raleigh, NC
- Market: Raleigh, NC
This acquisition by Bell Partners marks an important milestone in the company's portfolio expansion strategy. Vintage Jones Franklin offers 279 units, with each unit being sold at an average price of $284,946. The successful purchase of this multifamily community reflects Bell Partners' continued commitment to investing in high-quality residential properties in desirable locations.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,240,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$282,446.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$376,870.56
Annual Debt Service$4,522,446.71
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