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TruAmerica Multifamily Acquires Park Tower Apartments In Chandler For $40.1M With Newmark Rep
SOLD
$40,100,000
+ 1
Arizona
See Similar DealsMultiFamily
Sold 10/08/2025
SOLD
TruAmerica Multifamily Acquires Park Tower Apartments In Chandler For $40.1M With Newmark Rep
1283 Parklane Boulevard
See Similar DealsMultiFamily
Sold 10/08/2025
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved the sale of the Park Tower Apartments, a multifamily asset located at 1283 West Parklane Boulevard in Chandler, AZ. The sale price was $40,100,000, with a total of 180 units, resulting in a price per unit of $222,778.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,100,000
- Buyer: TruAmerica Multifamily
- Seller: Univest
- Units: 180
- Price Per Unit: $222,778
- Brokers: Chris Canter, Brad Goff & Brett Polachek - Newmark
- Mortgage Broker: Mitch Clarfield - Newmark
Newmark facilitated the financing for the acquisition, securing Fannie Mae financing to assist in the transaction. The brokers representing the buyer were Chris Canter, Brad Goff, and Brett Polachek.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,138,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,466.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$190,094.46
Annual Debt Service$2,281,133.50
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