City National Bank Provides $144.1 Million Acquisition Loan For Multifamily Property In Gilbert, AZ
FINANCED
$144,120,000
Arizona
See Similar DealsMultiFamily
Financed 10/03/2022
FINANCED
City National Bank Provides $144.1 Million Acquisition Loan For Multifamily Property In Gilbert, AZ
3004 South Market Street, Gilbert, Arizona 85295, United States
See Similar DealsMultiFamily
Financed 10/03/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 3004 & 3134 South Market St in Gilbert, AZ was recently involved in a loan transaction. The property consists of 624 units and was acquired through an acquisition loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $144,120,000
- Date: 10/03/2022
- Address: 3004 & 3134 South Market St, Gilbert, AZ
- Market: Gilbert, AZ
- Lender: City National Bank
- Loan Type: Acquisition loan
The lender involved in this loan transaction was City National Bank. The loan amount provided for the acquisition was $144,120,000. The property is situated in Gilbert, AZ and consists of 624 units in total.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$144,120,000.00
Monthly NOI$960,800.00
Monthly Debt Service$910,936.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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