Updated Oct 28, 2024
Wogan Group Acquires Multifamily Property In Memphis, TN For $12.5M
1066 Poplar Avenue, Memphis, Tennessee 38105, United States
$12,500,000
$62/SF
Building Size
200,000 SF
Asset Type
MultiFamily
Closing
Jul 11, 2022
About this deal
AI
An apartment complex located at 1066 Poplar Ave in Memphis, TN has been sold in a recent transaction. The multifamily property, consisting of 88 units, was sold by Pendleside Holdings to the buyer, Wogan Group, for a total sale price of $12,500,000. This equates to a per unit price of approximately $142,045.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Units: 88
- Price Per Unit: $142,045
The sale of this apartment complex was facilitated by Luke Searcy, Adam Klenk, Tyler Mayo, and Jordan Arand of Capstone Apartment Partners, who represented both the buyer and the seller in the transaction as brokers.
Players
Memphis 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93