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1050 South Longmore

MC Cos. Refinances 432-Unit Multifamily Property In Phoenix For $59.7M With Lender Freddie Mac
FINANCEDMultiFamily

MC Cos. Refinances 432-Unit Multifamily Property In Phoenix For $59.7M With Lender Freddie Mac

1050 South Longmore

$59,700,000

Building Size

Asset Type

MultiFamily

Closing

Jun 5, 2023

AI

The multifamily property located at 1050 South Longmore in Phoenix, AZ has undergone a loan refinancing transaction.

Summary of transaction details

The loan amount for this refinancing deal is $59,700,000, facilitated by Freddie Mac. MC Cos. is the landlord of the property. Additionally, the brokers involved in the transaction are Alex Inman, Jon Hyduke, Rene Jaubert, Harrison Hoskins, and Hannah Coen from Walker & Dunlop.

Players

Alex Inman

Walker & Dunlop

Broker

$59.7M

vol

2 deals

Broker

Phoenix 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

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93