ApexOne Investment Partners Sells 252-Unit Multifamily Property In Murfreesboro, TN For $56M
SOLD
$56,000,000
Tennessee
See Similar DealsMultiFamily
Sold 07/20/2022
SOLD
ApexOne Investment Partners Sells 252-Unit Multifamily Property In Murfreesboro, TN For $56M
285 North Rutherford Boulevard, Murfreesboro, Tennessee 37132, United States
See Similar DealsMultiFamily
Sold 07/20/2022
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 285 N Rutherford Blvd in Murfreesboro, TN has been sold in a recent transaction. The property, consisting of 252 units, was sold by ApexOne Investment Partners. The sale was facilitated by brokers Vincent Lefler and Tarek El Gammal from Newmark. The transaction took place on July 20, 2022, for a total sale price of $56,000,000, resulting in a per unit price of approximately $222,222.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $56,000,000
- Address: 285 N Rutherford Blvd, Murfreesboro, TN
- Market: Murfreesboro, TN
- Seller: ApexOne Investment Partners
- Brokers: Vincent Lefler & Tarek El Gammal - Newmark
- Units: 252
- Price per Unit: $222,222
The transaction involved the collaboration of brokers Vincent Lefler and Tarek El Gammal from Newmark, who represented the seller ApexOne Investment Partners. Their expertise and negotiation skills played a crucial role in finalizing the sale of the multifamily property at 285 N Rutherford Blvd in Murfreesboro, TN.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,986,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$198,956.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$265,468.57
Annual Debt Service$3,185,622.84
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