Silver Creek Development Secures $57.9M Construction Financing For Multifamily Property In Tempe, AZ
2106 East Apache Boulevard, Tempe, Arizona 85281, United States
$57,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 14, 2022
AI
The multifamily property located at 2106 E Apache Blvd in Tempe, AZ has been involved in a recent loan transaction. The loan was obtained for the purpose of construction financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $57,900,000
- Units: 187
- Address: 2106 E Apache Blvd, Tempe, AZ
- Market: Tempe, AZ
The loan for this property was secured by Silver Creek Development, the landlord of the multifamily asset. The loan was facilitated by Antonio Hachem, Wendy Wang, Cornelius Baliukonis, and John Choi of George Smith Partners.
Players
Tempe 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93