Velocis Partners Acquires Multifamily Property In Nashville, TN For $71.8M - Vincent Lefler & Tarek El Gammal - Newmark
SOLD
$71,800,000
Tennessee
See Similar DealsMultiFamily234,840 SF
Sold 01/13/2022
SOLD
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
See Similar DealsMultiFamily234,840 SF
Sold 01/13/2022
Summary
TENNESSEE
Asset Type:MultiFamily
Price Per Square Foot:$305
Total Square Footage:234,840 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,829,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$255,090.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$340,368.63
Annual Debt Service$4,084,423.57
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