Inland Real Estate Group Acquires Multifamily Property In Williamsburg For $100M
SOLD
$100,000,000
Virginia
See Similar DealsMultiFamily
Sold 06/27/2022
SOLD
Inland Real Estate Group Acquires Multifamily Property In Williamsburg For $100M
401 Bulifants Boulevard, Williamsburg, Virginia 23188, United States
See Similar DealsMultiFamily
Sold 06/27/2022
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 401 Bulifants Blvd in Williamsburg, VA has been sold in a recent transaction. The asset consists of 289 units and was sold for a total price of $100,000,000, resulting in a per unit price of $346,021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $100,000,000
- Units: 289
- Price per Unit: $346,021
- Address: 401 Bulifants Blvd, Williamsburg, VA
- Market: Williamsburg, VA
The buyer of the property was Inland Real Estate Group, while the seller was Bonaventure. The deal was facilitated by Drew White and Carter Wood of Berkadia.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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