Updated Dec 4, 2024
Toll Brothers Inc & Willton Investment Management Secure $86M Construction Loan For Phoenix Multifamily
24255 North 19th Avenue
$86,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 9, 2023
About this deal
AI
The multifamily property located at 24255 North 19th Avenue in Phoenix, AZ was involved in a closed transaction. The deal involved a construction loan with a loan amount of $86,000,000. The property is owned by Douglas C. Yearley, Jr. of Toll Brothers Inc and Chris Luo of Willton Investment Management.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $86,000,000
- Lender: Santander Bank & Alerus Financial Corp
- Landlord: Douglas C. Yearley, Jr. - Toll Brothers Inc & Chris Luo - Willton Investment Management
The lenders involved in the loan deal were Santander Bank and Alerus Financial Corp. The property owners, Douglas C. Yearley, Jr. and Chris Luo, were represented by Toll Brothers Inc and Willton Investment Management, respectively.
On the Map
$86,000,000
MultiFamily
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Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93