Bonaventure Acquires Multifamily Property In Virginia Beach For $52.1M
SOLD
$52,100,000
Virginia
See Similar DealsMultiFamily
Sold 12/20/2021
SOLD
Bonaventure Acquires Multifamily Property In Virginia Beach For $52.1M
5697 Magnolia Run Drive, Virginia Beach, Virginia 23464, United States
See Similar DealsMultiFamily
Sold 12/20/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 5697 Magnolia Run Cir in Virginia Beach, VA has been sold in a recent transaction. The property consists of 200 units and was sold for a total price of $52,100,000, with a per unit price of $260,500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $52,100,000
- Units: 200
- Price Per Unit: $260,500
- Buyer: Bonaventure - Dwight Dunton & Chris Cobb
Bonaventure, represented by Dwight Dunton & Chris Cobb, acted as the buyer in this transaction. The sale of this multifamily property in Virginia Beach, VA demonstrates the continued activity in the real estate market in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,778,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$185,100.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,980.58
Annual Debt Service$2,963,766.96
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