Greystar Acquires Multifamily Property On Antioch Pike For $73.6M
SOLD
$73,600,000
Tennessee
See Similar DealsMultiFamily
Sold 11/16/2021
SOLD
Greystar Acquires Multifamily Property On Antioch Pike For $73.6M
100 Antioch Pike, Nashville, Tennessee 37211, United States
See Similar DealsMultiFamily
Sold 11/16/2021
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
The recently closed property transaction in Nashville, TN involved a multifamily asset located at 100 Antioch Pike. The property spans across 24 acres, offering a sizable investment opportunity in a sought-after market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $73,600,000
- Units: 323
- Price Per Unit: $227,864
- Buyer: Greystar - Bob Faith
- Seller: Carroll Organization - M. Patrick Carroll
Leading the acquisition is Greystar, represented by Bob Faith. The buyer saw great potential in this multifamily property, highlighting its appeal in the Nashville market. On the other side, the Carroll Organization, led by M. Patrick Carroll, served as the seller in this transaction. The successful deal demonstrates the confidence in the asset's value and the opportunities it presents.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,925,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$261,485.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$348,901.55
Annual Debt Service$4,186,818.59
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