Updated Oct 29, 2024
Morgan Stanley Finances Connor Group's $120M Acquisition Of Alta Raintree Apartments In Scottsdale
688 East Raintree Drive Scottsdale, Arizona 85260, USA
$120,000,000
Units
330
Asset Type
MultiFamily
Closing
Jun 23, 2023
About this deal
AI
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.
On the Map
$120,000,000
MultiFamily
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Players
Scottsdale 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93