Marcus & Millichap Facilitates $23M Loan For 156-Unit Multifamily In Mesa, Arizona
FINANCED
$23,000,000
Arizona
See Similar DealsMultiFamily122 SF
Financed 12/20/2022
FINANCED
Marcus & Millichap Facilitates $23M Loan For 156-Unit Multifamily In Mesa, Arizona
Mesa, Arizona, United States
See Similar DealsMultiFamily122 SF
Financed 12/20/2022
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$188,524
Total Square Footage:122 SF
Transaction Type:Loan
The multifamily property located in Mesa, Arizona recently underwent a closed transaction. This property consists of 156 units and spans across 122,545 square feet. The market value of this asset type in Mesa, Arizona has been established through the recently completed deal. The transaction took place on 12/20/2022 and was facilitated by Stefen Chraghchian and Sharone Sabar from Marcus & Millichap. The loan provided for the acquisition amounted to $23,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Units: 156
- Square Footage: 122,545
- Market: Mesa, Arizona
The key individuals involved in this transaction were Stefen Chraghchian and Sharone Sabar from Marcus & Millichap. They represented the buyers or sellers on this deal, serving as brokers. The terms of the loan for this acquisition included a 5.375% interest rate, 5-year fixed term, and no prepayment penalty. This closed transaction highlights the activity and potential opportunities in the multifamily property market in Mesa, Arizona.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,000,000.00
Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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