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Eastman Residential Acquires Multifamily Property In Nashville For $40M

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SOLD
$40,000,000

Tennessee

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MultiFamily
Sold 06/09/2022
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Property Image
SOLD

Eastman Residential Acquires Multifamily Property In Nashville For $40M

1345 Wenlon Drive, Murfreesboro, Tennessee 37130, United States

See Similar Deals
MultiFamily
Sold 06/09/2022
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Summary

TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale

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

1 deal$40M volume
BROKER

BUYER



Details

SOLD
IMAGE: Zach Schofel, Michael Schofel & Peter Schofel DATE: 06/09/2022 ADDRESS: 1345 Wenlon Dr. MARKET: Nashville, MSA ASSET TYPE: Multifamily BUYER: Eastman Residential - Zach Schofel, Michael Schofel & Peter Schofel SELLER: FPA Multifamily SELLER'S REP: Zac Wracher SALE PRICE: $40,000,000 UNITS: 216 ~ PPU: $185,185

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
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