Updated Oct 28, 2024
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
About this deal
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.
On the Map
$27,750,000
MultiFamily
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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