Updated Nov 28, 2024
Bell Partners Acquires Vintage Jones Franklin Multifamily In Raleigh For $79.5M
930 Vintage Jones Way Raleigh, North Carolina 27606, USA
$79,500,000
Units
279
Asset Type
MultiFamily
Closing
Aug 17, 2023
About this deal
AI
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.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93