Updated Oct 28, 2024
KB Investment & Development Acquires 328-Unit Multifamily Property In Tempe, AZ For $108M Loan
601 West Rio Salado Parkway, Tempe, Arizona 85281, United States
$108,000,000
Units
328
Asset Type
MultiFamily
Closing
Jul 24, 2022
About this deal
AI
The multifamily property located at 601 W Rio Salado Pkwy in Tempe, AZ has been involved in a recent loan transaction. The property consists of 328 units and was acquired by KB Investment & Development Company.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $108,000,000
- Loan Type: Acquisition
- Loan Terms: Five-year, floating rate loan
The loan for this transaction was provided by Mesa West Capital. Rocco Mandala, representing CBRE, acted as the broker in this deal.
On the Map
$108,000,000
MultiFamily
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Players
Tempe 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93