Wexford Developments Secures $49.5M Construction Financing For Flagstaff Multifamily
NEC Butler Ave & 4th St, Flagstaff, AZ 86004
$49,450,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 14, 2022
AI
The NEC Butler Ave & 4th St property in Flagstaff, AZ has been involved in a closed transaction. This multifamily property consists of 224 units. The deal was facilitated by Wexford Developments as the landlord. The brokers, Brad Miner & Eric Tupler from JLL, represented the parties involved in the transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $49,450,000
- Loan Type: Construction financing
The loan amount for this transaction was $49,450,000, and it was obtained for construction financing purposes.
Players
Flagstaff 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93