Updated Feb 6, 2025
Multifamily Property Stonehenge Sold For $52M In Lebanon TN With Institutional Property Advisors
2645 Tennessee Highway 109
$52,000,000
Units
228
Asset Type
MultiFamily
Closing
Feb 4, 2025
About this deal
AI
The transaction involved the sale of a multifamily property located at 2645 Tennessee Highway 109 in Lebanon, TN. The asset encompasses 13 acres and comprises 228 units, with a price per unit calculated at $228,070. The total sale price for the property was $52,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $52,000,000
- Address: 2645 Tennessee Highway 109
- Market: Lebanon, TN
- Acres: 13
- Units: 228
- Price Per Unit: $228,070
- Brokers: Drew Garza & Will Balthrope - Institutional Property Advisors
- Mortgage Brokers: Brian Eisendrath, Cameron Chalfante & Jake Vitta - Institutional Property Advisors
Institutional Property Advisors played a key role in facilitating both the sale and financing of the property, known as Stonehenge, which is situated in an area experiencing rapid growth.
On the Map
$52,000,000
MultiFamily
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Players
Lebanon 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93