Updated Oct 28, 2024
Bonaventure Acquires Multifamily Property In Virginia Beach For $52.1M
5697 Magnolia Run Drive, Virginia Beach, Virginia 23464, United States
$52,100,000
Units
200
Asset Type
MultiFamily
Closing
Dec 19, 2021
About this deal
AI
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.
On the Map
$52,100,000
MultiFamily
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Players
Virginia Beach 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93