Quad Property Group Acquires 170-Unit Multifamily Property In Fredericksburg, VA For $31.7M Financing From Berkadia
214 Kings Mill Court, Fredericksburg, Virginia 22401, United States
$31,700,000
Units
170
Asset Type
MultiFamily
Closing
Jun 29, 2022
AI
The multifamily property located at 214 Kings Mill Ct in Fredericksburg, VA has been involved in a recent closed transaction. The property consists of 170 units and is owned by Quad Property Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,700,000
- Date: 06/30/2022
- Market: Fredericksburg, VA
- Landlord: Quad Property Group
The broker representing the deal is Joshua Finley from Berkadia. The transaction involved acquisition financing in the form of a three-year bridge loan.
Players
Fredericksburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93