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1401 3rd Street Southwest

TPG Briskwood LLC Acquires Briskwood Place Apartments From Sweetbay Capital Management For $1.56M
SOLDMultiFamily

TPG Briskwood LLC Acquires Briskwood Place Apartments From Sweetbay Capital Management For $1.56M

1401 3rd Street Southwest

$1,560,000

Building Size

Asset Type

MultiFamily

Closing

Dec 8, 2024

AI

The property involved in this transaction is Briskwood Place Apartments, a 15-unit multifamily asset located at 1401 3rd Street Southwest in Roanoke, VA. The transaction price for the asset was $1,560,000.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,560,000
  • Buyer: TPG Briskwood, LLC
  • Seller: Sweetbay Capital Management, LLC
  • Broker: Clay Taylor - Cushman & Wakefield

Clay Taylor of Cushman & Wakefield represented Sweetbay Capital Management, LLC in the sale of the property. The transaction took place on 12/08/2024 in the historic district of Roanoke's Old Southwest.

Players

Clay Taylor

Cushman & Wakefield

Broker

$92.7M

vol

18 deals

Broker

Roanoke MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.17%

Cash-on-Cash

-2.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93