Ritz Banc Group Acquires Winchester Multifamily For $24M
SOLD
$24,000,000
+ 1
Virginia
See Similar DealsMultiFamily
Sold 08/09/2022
SOLD
Ritz Banc Group Acquires Winchester Multifamily For $24M
2237 Taft Circle, Winchester, Virginia 22601, United States
See Similar DealsMultiFamily
Sold 08/09/2022
+ 1
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2237 Taft Circle & 1002-1058 Woodstock Lane in Winchester, VA has been sold in a recent transaction. The property consists of 195 units and was purchased for a total price of $24,000,000. The per unit price for this transaction was $123,077.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Units: 195
- Price Per Unit: $123,077
- Market: Winchester, VA
The buyer of the property is Ritz Banc Group, while the seller is Outlier Realty Capital. The transaction was facilitated by Marty Zupancic, Dennis Cravedi, Nick Murray, and Eric Jentoft-Herr from Marcus & Millichap.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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