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
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.
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