3rd Avenue Investments Secures $317M Bridge Loan For Mesa, Chandler & Gilbert Multifamily
1750 South Alma School Road, Mesa, Arizona 85210, United States
$317,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 4, 2022
AI
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.
Players
Mesa 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93