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

Property Image
SOLD
$1,560,000

Virginia

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MultiFamily
Sold 12/08/2024
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Property Image
SOLD

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

1401 3rd Street Southwest

See Similar Deals
MultiFamily
Sold 12/08/2024
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale

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
Clay Taylor
18 deals$92.7M volume(863) 224-0835
BROKER

Details

SOLD
IMAGE: 12/08/2024 ADDRESS: 1401 3rd Street Southwest MARKET: Roanoke, VA ASSET TYPE: MultiFamily BUYER: TPG Briskwood, LLC SELLER: Sweetbay Capital Management, LLC BROKER: Clay Taylor - Cushman & Wakefield SALE PRICE: $1,560,000 NOTE: Briskwood Place Apartments, a 15-unit property in Roanoke's Old Southwest historic district, has been sold for $1.562 million to TPG Briskwood, LLC. The deal was brokered by Clay Taylor of Cushman & Wakefield | Thalhimer, representing the seller, Sweetbay Capital Management. ,LLC

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

$83,200.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,542.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,395.20
Annual Debt Service$88,742.35