Investors Management Group Acquires 250-Unit Multifamily In Central, SC For $42.5M
SOLD
$42,500,000
South Carolina
See Similar DealsMultiFamily149,888 SF
Sold 06/17/2022
SOLD
Investors Management Group Acquires 250-Unit Multifamily In Central, SC For $42.5M
100 Cross Creek Drive, Central, South Carolina 29630, United States
See Similar DealsMultiFamily149,888 SF
Sold 06/17/2022
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$283
Total Square Footage:149,888 SF
Transaction Type:Sale
The multifamily property located at 100 Cross Creek Ct in Central, SC has been sold in a transaction. The property consists of 250 units and was sold for a total price of $42,500,000, resulting in an average price per unit of $170,000. The sale took place on 06/17/2022.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $42,500,000
- Address: 100 Cross Creek Ct, Central, SC
- Market: Central, SC
Investors Management Group, Inc, represented by Karlin Conklin, acquired the property. The deal was facilitated by broker Will Mathews from Colliers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$150,993.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$201,471.68
Annual Debt Service$2,417,660.19
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