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2517 West Tremont Court, Ri...

West 300 North Associates, LLC Acquires 230-Unit Multifamily Property In Richmond, VA For $76.5M
SOLDMultiFamily

West 300 North Associates, LLC Acquires 230-Unit Multifamily Property In Richmond, VA For $76.5M

2517 West Tremont Court, Richmond, Virginia 23225, United States

$76,500,000

Building Size

Asset Type

MultiFamily

Closing

Sep 7, 2022

AI

A multifamily property located at 2517 W Tremont Ct in Richmond, VA has been sold for a total price of $76,500,000. The property consists of 230 units, resulting in a price per unit of $332,609.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $76,500,000
  • Address: 2517 W Tremont Ct, Richmond, VA
  • Market: Richmond, VA

The buyer of the property is West 300 North Associates, LLC, while the seller is Stratford Bethany, LLC. The deal was facilitated by Garrison Gore, Charles Wentworth, G.S. Hankins, and Victoria Pickett from Colliers.

Players

Garrison Gore

Newmark

Broker

$251.7M

vol

5 deals

Broker

Richmond 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

0.21%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93