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Global Mutual & TriGate Capital Acquire 251-Unit Multifamily In Phoenix Loaned By Athene

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FINANCED
$41,000,000

Arizona

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MultiFamily
Financed 07/03/2024
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Property Image
FINANCED

Global Mutual & TriGate Capital Acquire 251-Unit Multifamily In Phoenix Loaned By Athene

3883 North Central Avenue

See Similar Deals
MultiFamily
Financed 07/03/2024
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan

The Aura Central apartment property, located at 3883 North Central Avenue in Phoenix, Arizona, consists of 251 units. The property was built in 2022 and offers studio, one- and two-bedroom units. Amenities at Aura Central include a swimming pool, fitness center, and outdoor lounge areas.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $41,000,000
  • Lender: Athene
  • Landlord: Jonathan Feldman - Global Mutual; Jay Henry - TriGate Capital
  • Broker: Kidder Mathews

Athene Annuity and Life Co. provided the $41 million financing for the $70 million purchase of the Aura Central apartment property in Phoenix. The buyers of the property include Global Mutual of London and TriGate Capital of Dallas. Jonathan Feldman from Global Mutual and Jay Henry from TriGate Capital serve as the landlords involved in the transaction.

Players

Athene
Athene
LENDER

Details

FINANCED
IMAGE: 07/03/2024 ADDRESS: 3883 North Central Avenue MARKET: Phoenix, AZ ASSET TYPE: Multifamily ~ UNITS: 251 LENDER: Athene LANDLORD: Jonathan Feldman - Global Mutual; Jay Henry - TriGate Capital BROKER: Kidder Mathews LOAN AMOUNT: $41,000,000 NOTE: Athene Annuity and Life Co. provided $41 million in financing for the $70 million purchase of the 251-unit Aura Central apartment property in Phoenix by Global Mutual of London and TriGate Capital of Dallas. Built in 2022, Aura Central offers studio, one- and two-bedroom units with amenities such as a swimming pool, fitness center, and outdoor lounge areas.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$41,000,000.00

Monthly NOI$273,333.33
Monthly Debt Service$259,147.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00