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16630 North Reems Road, Sur...

Newmark Brokers Facilitate $85M Sale Of Surprise, AZ Multifamily Property
SOLDMultiFamily

Newmark Brokers Facilitate $85M Sale Of Surprise, AZ Multifamily Property

16630 North Reems Road, Surprise, Arizona 85374, United States

$85,000,000

Building Size

Asset Type

MultiFamily

Closing

Aug 21, 2022

AI

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.

Players

Chris Canter

Newmark

Broker

$630.6M

vol

11 deals

Broker

Surprise MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93