Updated Oct 29, 2024
MC Cos. Refinances 432-Unit Multifamily Property In Phoenix For $59.7M With Lender Freddie Mac
1050 South Longmore
$59,700,000
Units
432
Asset Type
MultiFamily
Closing
Jun 5, 2023
About this deal
AI
The multifamily property located at 1050 South Longmore in Phoenix, AZ has undergone a loan refinancing transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $59,700,000
- Units: 432
- Lender: Freddie Mac
- Landlord: MC Cos.
- Brokers: Alex Inman, Jon Hyduke, Rene Jaubert, Harrison Hoskins, and Hannah Coen - Walker & Dunlop
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.
On the Map
$59,700,000
MultiFamily
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Players
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