3rd Avenue Investments Secures $317M Bridge Loan For Mesa, Chandler & Gilbert Multifamily
FINANCED
$317,000,000
Arizona
See Similar DealsMultiFamily
Financed 01/04/2022
FINANCED
3rd Avenue Investments Secures $317M Bridge Loan For Mesa, Chandler & Gilbert Multifamily
1750 South Alma School Road, Mesa, Arizona 85210, United States
See Similar DealsMultiFamily
Financed 01/04/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
1750 S Alma School Rd, 125 S Dobson Rd, 1101 N Gilbert Rd, and 2300 W San Angelo St in Mesa, Chandler, and Gilbert, AZ have been transacted in a closed deal. The property is a multifamily asset consisting of 1,368 units. The transaction was completed on 01/04/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $317,000,000
- Market: Mesa, Chandler & Gilbert, AZ
3rd Avenue Investments is the landlord of the property. The brokers involved in the transaction were Brandon Harrington and Tyler Woodard from NorthMarq. The loan obtained for the deal was a Bridge Loan with an amount of $317,000,000.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$317,000,000.00
Monthly NOI$2,113,333.33
Monthly Debt Service$2,003,655.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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