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
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