Updated Dec 12, 2024
Knightvest Capital & Invesco Real Estate Acquire Multifamily Property In Fort Mill For $70M
1027 Aubrey Lane Fort Mill, Sc 29708, Usa
$70,000,000
Units
332
Asset Type
MultiFamily
Closing
May 12, 2023
About this deal
AI
The Apartments at Bryden, a 332-unit multifamily community in Fort Mill, S.C., near Charlotte, has been sold to a joint venture between Knightvest Capital and Invesco Real Estate for $70 million. The property is located at 1027 Aubrey Lane and is situated in the Fort Mill market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $70,000,000
- Units: 332
- Price Per Unit: $210,843
The joint venture between Knightvest Capital and Invesco Real Estate made the acquisition of The Apartments at Bryden, signaling their investment in the Fort Mill market. The multifamily community offers a total of 332 units, with a price per unit of $210,843. This transaction reflects the confidence of both Knightvest Capital and Invesco Real Estate in the potential of the Fort Mill market.
Players
Charlotte 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93