Decron Properties Acquires Multifamily Property In Gilbert, AZ For $91M
SOLD
$91,000,000
Arizona
See Similar DealsMultiFamily
Sold 07/28/2022
SOLD
Decron Properties Acquires Multifamily Property In Gilbert, AZ For $91M
1233 South Gilbert Road, Gilbert, Arizona 85296, United States
See Similar DealsMultiFamily
Sold 07/28/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1233 S Gilbert Rd in Gilbert, AZ has recently been sold. The transaction took place on July 28, 2022, with Decron Properties represented by David Nagel as the buyer's representative.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $91,000,000
- Number of Units: 216
- Price Per Unit: $421,296
The sale of this multifamily property represents a significant investment in the Gilbert, AZ market. The buyer, Decron Properties, recognized the value and potential of the property in this location, leading to the successful transaction. The involvement of David Nagel as the buyer's representative further highlights the expertise and strategic approach taken in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,853,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$323,303.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$431,386.43
Annual Debt Service$5,176,637.11
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