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1760 South Crismon Road, Me...

Churchill Real Estate Provides $51.5M Construction Loan For Mesa Multifamily Property
FINANCEDMultiFamily

Churchill Real Estate Provides $51.5M Construction Loan For Mesa Multifamily Property

1760 South Crismon Road, Mesa, Arizona 85209, United States

$51,500,000

$165/SF

Building Size

311,515 SF

Asset Type

MultiFamily

Closing

Mar 30, 2022

AI

The multifamily property located at 1760 S Crismon Road in Mesa, AZ has been involved in a recent loan transaction. The property consists of 240 units with a total square footage of 311,515. The loan amount for this transaction is $51,500,000, and it is classified as a construction loan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $51,500,000
  • Units: 240
  • Square Footage: 311,515
  • Address: 1760 S Crismon Road, Mesa, AZ
  • Market: Mesa, AZ

The loan for this transaction was provided by Churchill Real Estate, represented by Sean Robertson and Jeff Rosenfeld. The brokers involved in the deal were Jake Lapidot and Michael Horowitz from Cooper-Horowitz.

Players

Michael Horowitz

Cooper Horowitz

Broker

$1.1B

vol

25 deals

Broker
Jeff Rosenfeld

Jeff Rosenfeld

Churchill Real Estate

Lender

$348.5M

vol

6 deals

Lender
Churchill Real Estate
Churchill Real EstateLender

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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93