Updated Oct 28, 2024
Velocis Partners Acquires Multifamily Property In Nashville, TN For $71.8M - Vincent Lefler & Tarek El Gammal - Newmark
610 Sylvan Heights Way, Nashville, Tennessee 37209, United States
$71,800,000
$305/SF
Building Size
234,840 SF
Asset Type
MultiFamily
Closing
Jan 12, 2022
About this deal
AI
The multifamily property located at 610 Sylvan Hts Wy in Nashville, TN has been sold in a recent transaction. The property consists of 246 units, with each unit having a price per unit (PPU) of $291,869. The sale price for the entire property was $71,800,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $71,800,000
- Units: 246
- PPU: $291,869
The buyer of the property was Velocis Partners, while the seller was Sherman Residential. The transaction was facilitated by Vincent Lefler & Tarek El Gammal from Newmark acting as brokers.
On the Map
$71,800,000
$305/SF
MultiFamily
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Players
Nashville 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93