Capital Square Acquires 262-Unit Multifamily In Richmond, VA For $91.7M
SOLD
$91,700,000
Virginia
See Similar DealsMultiFamily
Sold 09/01/2022
SOLD
Capital Square Acquires 262-Unit Multifamily In Richmond, VA For $91.7M
2031 Maywill Street, Richmond, Virginia 23230, United States
See Similar DealsMultiFamily
Sold 09/01/2022
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
Capital Square has acquired a multifamily property located at 2031 Maywill St in Richmond, VA. The property, sold by Bristol Development Group, was purchased for a total of $91,700,000. This transaction represents a significant investment in the Richmond market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $91,700,000
- Units: 262
- Price Per Unit: $350,000
Capital Square, represented by Whitson Huffman, played a key role in this deal. Their expertise and experience in the market contributed to the successful acquisition. The involvement of Bristol Development Group as the seller highlights their commitment to delivering quality properties in the Richmond area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,890,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$325,790.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$434,704.78
Annual Debt Service$5,216,457.40
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