CS1031 Parkland Apartments DST
multifamily apartment community
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—
396 unitsmultifamily apartment community
$155,000,000
100.0% of portfolio
- Seller
- —
- Property manager
- Capital Square
The offering seeks $105,700,000 in equity alongside $73,424,000 in debt to acquire a 396-unit multifamily property for $155,000,000. Total capitalization is $179,124,000 with a projected Year 1 income yield of 3.40%.
Capital structure
Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M
Offering price
$60.0M
Price / unit
$240,000
Units
250
Property age
12 yrs
Projected distribution rate
Avg 6.75%
Yr 1Term avg.
Yr 1 3.40%Term avg. 3.64%
Year-one distribution of 6.25% stepping to 7.20% by year seven.
The property
396-Unit Multifamily Apartment Community
$155,000,000 acquisition price
Sponsor
Capital Square
Asset Type
Multifamily apartment community
Location
—
Units
396
Property Age
—
Offering Price
$179,124,000
Offering Debt
$73,424,000
Offering Equity
$105,700,000
Offering LTV
40.99%
Income % (Yr. 1)
3.40%
Avg. Income (Full Term)
3.64%
Minimum Cash Investment
—
Minimum 1031 Investment
—
Strengths
- Conservative 40.99% offering LTV
- Large-scale 396-unit multifamily community
Concerns
- Initial Year 1 cash yield is 3.40%
- Syndicated cap rate compressed to 4.02%