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BridgeGaps Acquires Victory Place Townhomes In Clarksville For $31M
SOLD
$31,000,000
Tennessee
See Similar DealsMultiFamily
Sold 05/20/2024
SOLD
BridgeGaps Acquires Victory Place Townhomes In Clarksville For $31M
401 Victory Road
See Similar DealsMultiFamily
Sold 05/20/2024
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
The $31 million sale of Victory Place Townhomes, a 194-unit multifamily community located at 401 Victory Road in Clarksville, TN, was facilitated by Matthews Real Estate Investment Services. This property was acquired by New York-based private equity firm BridgeGaps in a 1031 exchange with the seller, Singletary Construction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 194
- Price per Unit: $159,794
- Address: 401 Victory Road
- Market: Clarksville, TN
- Buyer: BridgeGaps
- Seller: Singletary Construction
- Brokers: Austin Graham & Austin Tomaiko - Matthews Real Estate Investment Services
The transaction involved key individuals such as the brokers Austin Graham and Austin Tomaiko from Matthews Real Estate Investment Services, who played an instrumental role in facilitating the deal between BridgeGaps and Singletary Construction, showcasing the active involvement of experienced professionals in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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