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Mayfair & Navarino Acquire Multifamily Properties In Nashville, TN & Huntsville, AL For $17.5M

Property Image
SOLD
$17,500,000
Wade Lowry
Stephen Perlis
Eric Hardesty

Tennessee

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MultiFamily
Sold 06/13/2022
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Property Image
SOLD

Mayfair & Navarino Acquire Multifamily Properties In Nashville, TN & Huntsville, AL For $17.5M

5544 Franklin Pike, Nashville, Tennessee 37220, United States

See Similar Deals
MultiFamily
Sold 06/13/2022
Wade Lowry
Stephen Perlis
Eric Hardesty
the dealplayerscompscontact
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Summary

TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 5544 Franklin Pike in Nashville, TN and 4020 Independence Dr NW in Huntsville, AL has been sold for approximately $17,500,000. The transaction involved the buyers, Mayfair & Navarino, and the sellers, 3MC Partners & Penn Capital Group. The property is situated in two markets, Nashville, TN and Huntsville, AL.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $17,500,000
  • Address: 5544 Franklin Pike, Nashville, TN & 4020 Independence Dr NW, Huntsville, AL
  • Market: Nashville, TN & Huntsville, AL
  • Buyer: Mayfair & Navarino
  • Seller: 3MC Partners & Penn Capital Group

The deal was facilitated by Eric Hardesty, Stephen Perlis, and Wade Lowry from The Kirkland Company, who acted as the brokers representing the buyer and seller.

Players

Eric Hardesty
The Kirkland Company
Eric Hardesty
1 deal$17.5M volume
BROKER
Stephen Perlis
The Kirkland Company
Stephen Perlis
1 deal$17.5M volume
BROKER
Wade Lowry
The Kirkland Company
Wade Lowry
1 deal$17.5M volume
BROKER

Details

SOLD
IMAGE: Eric Hardesty, Stephen Perlis & Wade Lowry DATE: 06/13/2022 ADDRESS: 5544 Franklin Pike & 4020 Independence Dr NW MARKET: Nashville, TN & Huntsville, AL ASSET TYPE: Multifamily BUYER: Mayfair & Navarino SELLER: 3MC Partners & Penn Capital Group. BROKERS: Eric Hardesty, Stephen Perlis & Wade Lowry - The Kirkland Company SALE PRICE: $17,500,000 (Approx.)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$933,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14