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
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