Newmark Brokers Facilitate $85M Sale Of Surprise, AZ Multifamily Property
SOLD
$85,000,000
Arizona
See Similar DealsMultiFamily
Sold 08/22/2022
SOLD
Newmark Brokers Facilitate $85M Sale Of Surprise, AZ Multifamily Property
16630 North Reems Road, Surprise, Arizona 85374, United States
See Similar DealsMultiFamily
Sold 08/22/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 16630 N Reems Road in Surprise, AZ has been sold for a total price of $85,000,000. This sale transaction was facilitated by Brad Goff, Brett Polachek, and Chris Canter from Newmark. The property consists of 256 units, resulting in a price per unit of $332,031.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Address: 16630 N Reems Road, Surprise, AZ
- Market: Surprise, AZ
- Brokers: Brad Goff, Brett Polachek & Chris Canter - Newmark
- Units: 256
- Price per Unit: $332,031
The involvement of Brad Goff, Brett Polachek, and Chris Canter from Newmark in this transaction highlights their expertise and commitment to closing successful deals. Their industry knowledge and experience make them invaluable assets to both buyers and sellers in the multifamily market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.38
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