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Aspen Oak Capital Partners Acquires Independence Place Apartments In North Prince George For $39M
SOLD
$39,000,000
+ 3
Virginia
See Similar DealsMultiFamily
Sold 02/25/2026
SOLD
Aspen Oak Capital Partners Acquires Independence Place Apartments In North Prince George For $39M
5000 Owens Way
See Similar DealsMultiFamily
Sold 02/25/2026
+ 3
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in this transaction is a 230-unit multifamily community located at 5000 Owens Way in North Prince George, VA. The sale was completed for a total amount of $39,000,000, resulting in a price per unit of $169,565.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $39,000,000
- Units: 230
- Price Per Unit: $169,565
- Buyer: Aspen Oak Capital Partners
- Seller's Representative: Ron Corrao, Eric Liebich, Dane Lozier, Matthew Weinstein, Dominic Bologna & Scott Fuller - NorthMarq
- Sale Date: 02/25/2026
NorthMarq's Charlotte investment sales team represented the seller in this deal with Aspen Oak Capital Partners acting as the buyer. The transaction involved the sale of Independence Place Apartments, highlighting the collaboration between multiple brokers from NorthMarq in securing the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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