Kalahari Resorts Acquires Development Site In Pocono Summit, PA For $30M
SOLD
$30,000,000
Pennsylvania
See Similar DealsDevelopment Site
Sold 10/13/2023
SOLD
Kalahari Resorts Acquires Development Site In Pocono Summit, PA For $30M
250 Kalahari Boulevard
See Similar DealsDevelopment Site
Sold 10/13/2023
Summary
PENNSYLVANIA
Asset Type:Development Site
Transaction Type:Sale
The development site located at 250 Kalahari Boulevard in Pocono Summit, PA has been sold in a transaction. The property spans across 190 acres and was sold for a total of $30,000,000, resulting in a price per acre of $160,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $30,000,000
- Address: 250 Kalahari Boulevard, Pocono Summit, PA
- Market: Pocono Summit, PA
- Buyer: Kalahari Resorts
- Seller: JEMB Realty
- Acres: 190
- Price Per Acre: $160,000
The buyer in this transaction is Kalahari Resorts, while JEMB Realty serves as the seller. The sale of this development site marks an important deal for both parties involved.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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