Excelsa Properties Acquires 276-Unit Multifamily In Fort Mill For $61.5M
SOLD
$61,500,000
South Carolina
See Similar DealsMultiFamily
Sold 12/30/2021
SOLD
Excelsa Properties Acquires 276-Unit Multifamily In Fort Mill For $61.5M
355 Amistead Avenue, Fort Mill, South Carolina 29708, United States
See Similar DealsMultiFamily
Sold 12/30/2021
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 355 Amistead Ave in Fort Mill, SC has been sold. The property, known as Fox Hunt Farms Apartments, consists of 276 units. The sale price for this transaction was $61,500,000, resulting in a per unit price of approximately $222,826.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,500,000
- Units: 276
- Per Unit Price: $222,826
- Market: Fort Mill, SC
Excelsa Properties, represented by David Fletcher from Stronghold Capital Partners, acted as the buyer in this transaction. The seller of the property was Fox Hunt Farms Apartments.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$218,496.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$291,541.38
Annual Debt Service$3,498,496.51
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