Updated Oct 28, 2024
Rise48 Equity Acquires Multifamily Property In Phoenix For $75.3M
11459 North 28th Drive, Phoenix, Arizona 85029, United States
$75,300,000
$397/SF
Building Size
189,494 SF
Asset Type
MultiFamily
Closing
Jun 16, 2022
About this deal
AI
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.
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93