Prism Multifamily Group Inc Acquires 237-Unit Multifamily In Phoenix, AZ For $27.75M With New York Community Bank's Acquisition Loan
203 West Indian School Road, Phoenix, Arizona 85031, United States
$27,750,000
Units
237
Asset Type
MultiFamily
Closing
Oct 23, 2022
AI
The recently closed property transaction involves a multifamily asset located at 203 West Indian School Road in Phoenix, AZ. The property consists of 237 units and was acquired by Prism Multifamily Group Inc.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $27,750,000
- Loan Amount: $27,750,000
- Loan Type: Acquisition
- Lender: New York Community Bank
- Landlord: Prism Multifamily Group Inc
New York Community Bank provided a loan of $27,750,000 for the acquisition of the multifamily property at 203 West Indian School Road. Prism Multifamily Group Inc served as the landlord in this transaction.
Players
Phoenix 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93