Updated Nov 28, 2024
The Lynd Acquisitions Group Acquires Mayflower Apartments In Virginia Beach For $43M
205 34th St, Virginia Beach, VA 23451, USA
$43,000,000
$17/SF
Building Size
2,429,190 SF
Asset Type
MultiFamily
Closing
Nov 28, 2019
About this deal
AI
The Mayflower Apartments located at 205 34th St in Virginia Beach, Virginia has been sold in a closed transaction. The multifamily property was sold for $43,000,000, with a total square footage of 242,919. The sale price per square foot was $177, indicating a significant investment in this asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 205 34th St, Virginia Beach, Virginia
- Market: Virginia Beach
The seller of the Mayflower Apartments was Harbor Group, represented by Jordan Sloane. On the other side of the deal, the buyer was The Lynd Acquisitions Group, represented by David Lynd and North Point. These key individuals and companies played a crucial role in finalizing the transaction, showcasing their expertise and commitment to the real estate industry.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93