Updated Oct 29, 2024
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.
On the Map
$22,950,000
MultiFamily
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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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93