Porter Kyle Secures $28.5 Million Refinance For The Cleveland Multifamily Community In Goodyear AZ
1035 North Sarival Avenue
$28,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 19, 2025
AI
The Cleveland is a 100-home build-to-rent community located at 1035 North Sarival Avenue in Goodyear, AZ. This multifamily asset features townhome-style units that include garages and private yards, along with various amenities such as a clubhouse, pool, coworking lounge, and dog park. The project was completed in July 2025 and has been refinanced for a total amount of $28.5 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,500,000
- Loan Type: Refinance
- Landlord: Porter Kyle
- Brokers: Brandon Harrington & Tyler Woodard - NorthMarq
Financing for the refinance was arranged by Northmarq’s Brandon Harrington and Tyler Woodard. This transaction highlights the involvement of these key brokers in securing financial arrangements for a significant multifamily development project in the Goodyear market.
Players
Goodyear MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan 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