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Multifamily Property Stonehenge Sold For $52M In Lebanon TN With Institutional Property Advisors
SOLD
$52,000,000
+ 2
Tennessee
See Similar DealsMultiFamily
Sold 02/04/2025
SOLD
Multifamily Property Stonehenge Sold For $52M In Lebanon TN With Institutional Property Advisors
2645 Tennessee Highway 109
See Similar DealsMultiFamily
Sold 02/04/2025
+ 2
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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