Carter Funds Sells 16 Multifamily Properties In Southeastern US For $394M
SOLD
$394,000,000
Texas
See Similar DealsMultiFamily
Sold 09/29/2021
SOLD
Carter Funds Sells 16 Multifamily Properties In Southeastern US For $394M
Southeastern
See Similar DealsMultiFamily
Sold 09/29/2021
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
Ray Hutchinson sold 16 multifamily properties in the Southeastern United States for a total of $394,000,000. The sale took place on September 29, 2021. The properties were part of an asset portfolio sold by Carter Funds.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $394,000,000
The seller of the properties was Ray Hutchinson, representing Carter Funds. Ray Hutchinson played a key role in the transaction as the representative of the seller. This significant sale demonstrates the strong demand for multifamily properties in the Southeastern United States market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$21,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,399,798.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,867,761.01
Annual Debt Service$22,413,132.11
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