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2929 South 91st Avenue

Brandon Treger Secures $19.3M Refinance Loan For Harmony At Hurley Farms In Tolleson, AZ
FINANCEDMultiFamily

Brandon Treger Secures $19.3M Refinance Loan For Harmony At Hurley Farms In Tolleson, AZ

2929 South 91st Avenue

$19,300,000

Building Size

Asset Type

MultiFamily

Closing

Nov 8, 2023

AI

Arizona developer Brandon Treger has successfully secured a $19.3 million refinance loan for his multifamily property, Harmony at Hurley Farms, located at 2929 South 91st Avenue in Tolleson, AZ. The property consists of 128 residential units in a suburban neighborhood of Phoenix.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $19,300,000
  • Address: 2929 South 91st Avenue, Tolleson, AZ
  • Market: Tolleson, AZ
  • Units: 128

The lender for this transaction was Newmark, and the loan terms include a five-year, fixed-rate loan. The loan type is a refinance, allowing Brandon Treger to capitalize on the value of his multifamily property, Harmony at Hurley Farms.

Note: This successful refinance loan provides Brandon Treger with the financial stability and flexibility to further develop and maintain his multifamily property in Tolleson.

Players

Tyler Waller

Marcus & Millichap

Broker

$70.5M

vol

5 deals

Broker
Newmark Knight Frank (Berkeley Point Capital)
Newmark Knight Frank (Berkeley Point Capital)Lender

Tolleson MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.82%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93