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Bryce Overend Acquires Timberlake Village Apartments From Alan Stalcup In Antioch SALE
SOLD
$34,250,000
Tennessee
See Similar DealsMultiFamily
Sold 03/05/2024
SOLD
Bryce Overend Acquires Timberlake Village Apartments From Alan Stalcup In Antioch SALE
325 Blue Lake Circle
See Similar DealsMultiFamily
Sold 03/05/2024
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
The 252-unit Timberlake Village Apartments in Antioch, suburban Nashville, was sold by GVA for $34.25 million, equating to approximately $135,900 per unit. The property is located at 325 Blue Lake Circle in the Antioch market of Tennessee.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,250,000
- Buyer: Bryce Overend - TriWest Development
- Seller: Alan Stalcup - GVA
- Units: 252
- Price Per Unit: $135,913
Bryce Overend, representing TriWest Development, acquired the Timberlake Village Apartments in Antioch. On the other end, Alan Stalcup from GVA facilitated the sale of the multifamily asset. GVA, headquartered in Austin, Texas, was the selling party in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$121,683.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$162,362.47
Annual Debt Service$1,948,349.68
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