Rise48 Equity Acquires Multifamily Property In Phoenix For $75.3M
FINANCED
$75,300,000
Arizona
See Similar DealsMultiFamily189,494 SF
Financed 06/17/2022
FINANCED
Rise48 Equity Acquires Multifamily Property In Phoenix For $75.3M
11459 North 28th Drive, Phoenix, Arizona 85029, United States
See Similar DealsMultiFamily189,494 SF
Financed 06/17/2022
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$397
Total Square Footage:189,494 SF
Transaction Type:Loan
The multifamily property located at 11459 N 28th Dr in Phoenix, AZ has been sold in a closed transaction. The property consists of 288 units and was sold for a total price of $75,300,000, resulting in a price per unit of $261,458.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $75,300,000
- Address: 11459 N 28th Dr, Phoenix, AZ
- Market: Phoenix, AZ
- Buyer: Rise48 Equity
- Seller: Pro Residential
- Broker: Trevor Koskovich - Northmarq
Trevor Koskovich from Northmarq represented the buyer, Rise48 Equity, in the transaction. Pro Residential served as the seller. The property's location in Phoenix, AZ makes it an attractive investment opportunity in the market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$75,300,000.00
Monthly NOI$502,000.00
Monthly Debt Service$475,947.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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