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Morgan Stanley Finances Connor Group's $120M Acquisition Of Alta Raintree Apartments In Scottsdale
FINANCED
$120,000,000
Arizona
See Similar DealsMultiFamily
Financed 06/23/2023
FINANCED
Morgan Stanley Finances Connor Group's $120M Acquisition Of Alta Raintree Apartments In Scottsdale
688 East Raintree Drive Scottsdale, Arizona 85260, USA
See Similar DealsMultiFamily
Financed 06/23/2023
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan
The Connor Group has acquired Alta Raintree, a 330-unit apartment property located at 688 East Raintree Drive in Scottsdale, Arizona. The acquisition was supported by $120 million in mortgage financing provided by Morgan Stanley.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $120,000,000
- Units: 330
- Market: Scottsdale, AZ
Morgan Stanley acted as the lender in this acquisition, providing the necessary financing for the purchase. The Connor Group, represented by their broker representative, completed the transaction and is now the landlord of Alta Raintree.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$120,000,000.00
Monthly NOI$800,000.00
Monthly Debt Service$758,481.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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