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Washington Property Company Acquires Multifamily Property In Alexandria, VA For $52.7M

Property Image
SOLD
$52,700,000

Virginia

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MultiFamily
Sold 01/12/2022
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Property Image
SOLD

Washington Property Company Acquires Multifamily Property In Alexandria, VA For $52.7M

100 South Reynolds Street, Alexandria, Virginia 22304, United States

See Similar Deals
MultiFamily
Sold 01/12/2022
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Summary

VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale

Located at 100 S Reynolds St in Alexandria, VA, this multifamily property has been sold in a closed transaction. The property encompasses various residential units.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $52,700,000
  • Address: 100 S Reynolds St, Alexandria, VA
  • Market: Alexandria, VA

Washington Property Company, represented by Quinn Rounsaville, acquired the property from Northpoint Realty Partners. JLL represented the buyer, while Berkadia represented the seller in this transaction.

Players

Jimmy Conley
2 deals$87M volume
BROKER

Drake Greer
JLL
5 deals$282.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Quinn Rounsaville DATE: 01/12/2022 ADDRESS: 100 S Reynolds St MARKET: Alexandria, VA ASSET TYPE: Multifamily BUYER: Washington Property Company - Quinn Rounsaville SELLER: Northpoint Realty Partners BUYER'S REP: JLL SELLER'S REP: Berkadia SALE PRICE: $52,700,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,810,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$187,231.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$249,824.89
Annual Debt Service$2,997,898.64