Updated Oct 28, 2024
Hill Property Partners, LLC Acquires Multifamily Property In Virginia Beach For $28.2M
624 Suhtai Court, Virginia Beach, VA, USA
$28,175,000
$33,303/SF
Building Size
846 SF
Asset Type
MultiFamily
Closing
Sep 10, 2021
About this deal
AI
Located at 624 Suhtai Court in Virginia Beach, VA, this recently closed property transaction involved a multifamily asset. The property consists of 148 units, with a per unit price of $190,372. The sale was completed on September 10, 2021, with a sale price of $28,175,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,175,000
Hill Property Partners, LLC acted as the buyer in this transaction, while Ginkgo Arbor Trace, LLC was the seller. The buyer was represented by Bill Overman, John Wessling, and Paul Peck from S.L. Nusbaum Realty Co., as well as Cushman & Wakefield. No further information regarding the deal's key individuals and companies was provided.
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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93