BridgeGaps Acquires Victory Place Townhomes In Clarksville For $31M
401 Victory Road
$31,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 20, 2024
AI
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.
Players
Clarksville 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93