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3001 North Black Canyon Hig...

Updated Oct 29, 2024

Northmarq Provides $22.95M Freddie Mac Mortgage Financing For Phoenix Multifamily Property
FINANCEDMultiFamily

Northmarq Provides $22.95M Freddie Mac Mortgage Financing For Phoenix Multifamily Property

3001 North Black Canyon Highway, Phoenix, Arizona 85015, United States

$22,950,000

Units

214

Asset Type

MultiFamily

Closing

Jun 12, 2022

About this deal

AI

The multifamily property located at 3001 North Black Canyon Highway in Phoenix, AZ has been involved in a recent loan transaction. The property consists of 214 units and was financed through a loan provided by Northmarq. The loan amount for the transaction was $22,950,000, and the financing was secured through Freddie Mac mortgage financing.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,950,000
  • Address: 3001 North Black Canyon Highway, Phoenix, AZ
  • Market: Phoenix, AZ
  • Units: 214
  • Lender: Northmarq
  • Loan Type: Freddie Mac mortgage financing

This transaction involved the financing of the multifamily property at 3001 North Black Canyon Highway. The loan was provided by Northmarq, and the financing was facilitated through Freddie Mac mortgage financing. The individuals and companies involved in this transaction played significant roles in securing the loan and ensuring a successful transaction.

Players

N
NorthmarqLender

Phoenix MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $107.2K per unit across 214 units on a published $23M (2022).

Browse Arizona multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.69%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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