7% Cap Rate on 1000 Unit Multifamily Complex For sale

October 24, 2016

3.5x equity multiple, a 21% IRR over the 7 year hold period

We represent a New York based multifamily operator who is seeking a JV equity partner to recapitalize an “Off Market” large apartment complex located in New Jersey within commuter distance to Manhattan and Philadelphia.

The 1000+ unit property is currently over 92% occupied and attracts a primary tenant base of young professionals and families. This complex is situated on 50+ acres with over 50 buildings.

Some of the key amenities include a fitness center, several tennis courts, dog parks, biking and jogging trails, multiple swimming pools, jogging and biking trails and golf course views.

Furthermore, the tenants enjoy a short commute to New York City and Philadelphia and are minutes away from Princeton, Rider and Rutgers Universities.

Investment Highlights
  • Off Market value add JV opportunity.
  • Approximate 6.25% cap rate¬†based on purchase price.
  • Property can be¬†acquired at over a 20% discount to market.
  • Well located in top area with one of the best school districts in the country.
  • Sponsor has acquired over $2 billion of multifamily properties since inception.
  • Existing financing can be assumed.

If you would like to receive additional information on this opportunity, please call me at (212) 716-5611.

Michael J. Campbell | Partner
212.716.5611 Office
mjc@carltongroup.com

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7% Cap Rate on 1000 Unit Multifamily Complex For sale