Investors Management Group Acquires Multifamily Property In Greenville, SC For $64.4M
SOLD
$64,400,000
South Carolina
See Similar DealsMultiFamily
Sold 09/22/2022
SOLD
Investors Management Group Acquires Multifamily Property In Greenville, SC For $64.4M
221 Fairforest Way, Greenville, South Carolina 29607, United States
See Similar DealsMultiFamily
Sold 09/22/2022
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 221 Fairforest Way in Greenville, SC has been sold. The transaction took place on September 22, 2022, and the property was purchased by Investors Management Group. The sale price for the property was $64,400,000. The property consists of 305 units, resulting in a price per unit of $211,148.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $64,400,000
- Address: 221 Fairforest Way
- Market: Greenville, SC
- Units: 305
- Price Per Unit: $211,148
Investors Management Group acted as the buyer in this transaction. They represent the buyer's interests in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,434,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$228,799.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$305,288.86
Annual Debt Service$3,663,466.26
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