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1345 Wenlon Drive, Murfrees...

Eastman Residential Acquires Multifamily Property In Nashville For $40M
SOLDMultiFamily

Eastman Residential Acquires Multifamily Property In Nashville For $40M

1345 Wenlon Drive, Murfreesboro, Tennessee 37130, United States

$40,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 8, 2022

AI

Located at 1345 Wenlon Dr. in Nashville, MSA, this multifamily property recently changed hands in a sale transaction. The property, consisting of 216 units, was sold for a total price of $40,000,000, resulting in a per unit price of $185,185.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $40,000,000
  • Units: 216
  • Price per Unit: $185,185

Eastman Residential, represented by Zach Schofel, Michael Schofel, and Peter Schofel, acquired the property from FPA Multifamily. Zac Wracher served as the seller's representative in this transaction. The sale took place on June 9, 2022.

Players

Zac Wracher

Broker

$40M

vol

1 deal

Broker

Zach Schofel

Eastman Residential

Buyer

$75M

vol

3 deals

Buyer
FPA Multifamily
FPA MultifamilyBuyer

Murfreesboro 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

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93