The total acquisition cost is $226,746,498 for the newly constructed 380-unit multifamily asset. The acquisition LTV is 52.3% based on $123,306,000 in debt financing.
Valuation ladder
Offering price$235.96M
Cap rate spread & load
Upfront load on offering3.90%
Load on equity8.18%
Load net of reserves0.71%
Acquisition Price
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Offering Price
$235,956,000
Appraised Value
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Upfront Load
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Load on Equity
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Load on Offering Price
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Acquisition Cap Rate
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Syndicated Cap Rate
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Premium / Discount
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Appraisal / Offering %
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Less Reserves %
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Strengths
- Asset acquired as 2024 new construction for $226,746,498 total acquisition cost.
Concerns
- Upfront fees represent 14.54% of the total acquisition cost.