Citadel Real Estate Group Acquires Multifamily Property In Columbia, South Carolina For $35.7M
SOLD
$35,700,000
South Carolina
See Similar DealsMultiFamily1,234 SF
Sold 10/04/2021
SOLD
Citadel Real Estate Group Acquires Multifamily Property In Columbia, South Carolina For $35.7M
780 Fashion Dr, Columbia, SC, USA
See Similar DealsMultiFamily1,234 SF
Sold 10/04/2021
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$28,930
Total Square Footage:1,234 SF
Transaction Type:Sale
The asset involved in this transaction is a multifamily property located at 780 Fashion Dr, Columbia, South Carolina. The sale was finalized for a total price of $35,700,000, which equates to a price per unit of $148,750 for its 240 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,700,000
- Units: 240
- Price Per Unit: $148,750
- Buyer: Citadel Real Estate Group
- Seller: VAS Apartments, LLC
- Brokerage Firms: Cushman & Wakefield
- Brokers: Tai Cohen, John Phoenix & Richard Gore
The transaction saw Citadel Real Estate Group as the buyer and VAS Apartments, LLC as the seller, with Tai Cohen, John Phoenix, and Richard Gore representing the deal on behalf of Cushman & Wakefield. Their involvement underscores the brokerage's role in facilitating this significant property transaction.
Players
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LENDER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,903,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$126,834.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$169,236.21
Annual Debt Service$2,030,834.56
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