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Gem Realty Capital Acquires Avenida Watermarq Germantown Multifamily For $32.9M From PC/APDG Germantown LLC
SOLD
$32,900,000
Tennessee
See Similar DealsMultiFamily
Sold 08/01/2025
SOLD
Gem Realty Capital Acquires Avenida Watermarq Germantown Multifamily For $32.9M From PC/APDG Germantown LLC
7900 Wolf River Boulevard
See Similar DealsMultiFamily
Sold 08/01/2025
Summary
TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in the transaction is Avenida Watermarq at Germantown, a senior-living apartment community located at 7900 Wolf River Boulevard, Germantown, TN. The multifamily asset consists of 161 units and was sold for $32,900,000, resulting in a price per unit of $204,348.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $32,900,000
- Units: 161
- Price Per Unit: $204,348
- Buyer: Gem Realty Capital
- Seller: PC/APDG Germantown LLC
- Transaction Date: 08/01/2025
Gem Realty Capital, based in Chicago, executed the acquisition through its affiliate GVII-IREP AWG Owner LP, indicating a strategic move in the senior-living sector within the Memphis market.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,754,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$116,886.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$155,962.78
Annual Debt Service$1,871,553.42
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