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16550 East Avenue of the Fo...

Nationwide Mutual Insurance Co Provides $34.15M Loan For 147-Unit Multifamily Property In Fountain Hills, AZ
FINANCEDMultiFamily

Nationwide Mutual Insurance Co Provides $34.15M Loan For 147-Unit Multifamily Property In Fountain Hills, AZ

16550 East Avenue of the Fountains, Fountain Hills, AZ

$34,150,000

Units

147

Asset Type

MultiFamily

Closing

Mar 7, 2023

AI

The property involved in this closed transaction is a multifamily asset located at 16550 East Avenue of the Fountains in Fountain Hills, AZ. The property consists of 147 units. The transaction was financed by Nationwide Mutual Insurance Co with a loan amount of $34,150,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,150,000
  • Units: 147
  • Lender: Nationwide Mutual Insurance Co
  • Address: 16550 East Avenue of the Fountains
  • Market: Fountain Hills, AZ

Nationwide Mutual Insurance Co provided the loan for this transaction. They serve as the lender in this deal. No additional details about the individuals or companies involved in this transaction are provided in the CONTEXT.

Players

NC
Nationwide Mutual Insurance CoLender

Fountain Hills 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

0.46%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93