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
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