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GID Acquires Alexandria Multifamily For $136.5M

Property Image
SOLD
$136,500,000

Virginia

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MultiFamily
Sold 05/03/2023
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Property Image
SOLD

GID Acquires Alexandria Multifamily For $136.5M

6050 Edgeware Lane Alexandria, Virginia 22315, USA

See Similar Deals
MultiFamily
Sold 05/03/2023
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Summary

VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 6050 Edgeware Ln in Alexandria, VA has been sold. The transaction took place on 05/03/2023. The property, comprising of 556 units, was acquired by GID from the seller, Harbor Group International - Richard Litton, for a sale price of $136,500,000. The price per unit (PPU) for this transaction amounts to $245,504.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $136,500,000
  • Units: 556
  • Price Per Unit: $245,504

GID, a prominent buyer in the real estate market, acted as the purchaser in this deal. Harbor Group International, represented by Richard Litton, served as the seller's representative.

Players

BUYER

Richard Litton
12 deals$2.3B volume
SELLER

Details

SOLD
IMAGE: Richard Litton DATE: 05/03/2023 ADDRESS: 6050 Edgeware Ln MARKET: Alexandria, VA ASSET TYPE: Multifamily BUYER: GID SELLER: Harbor Group International - Richard Litton SALE PRICE: $136,500,000 UNITS: 556 ~ PPU: $245,504

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,279,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$484,955.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$647,079.64
Annual Debt Service$7,764,955.67