Updated Dec 4, 2024
CBRE Secures $35.25M Construction Loan For 112-Unit BTR Community In Peoria, AZ
9625 West Olive Avenue
$35,250,000
Units
112
Asset Type
MultiFamily
Closing
Feb 1, 2024
About this deal
AI
CBRE has secured a $35.25 million construction loan for Bella Olivia, a 112-unit build-to-rent (BTR) community in Peoria, Arizona. The property is located at 9625 West Olive Avenue and is classified as a multifamily asset. The loan was secured on 02/01/2024.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,250,000
- Units: 112
- Market: Peoria, AZ
The loan was brokered by Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Robert Ybarra, and Shaun Moothart from CBRE. They played a crucial role in securing the construction loan for Bella Olivia.
Players
Peoria 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93