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Button Capital Limited Acquires Multifamily Property In Fountain Hills For $63.5M

Property Image
SOLD
$63,500,000
Tyler Anderson
Sean Cunningham
Rocco Mandala
+ 3

Arizona

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MultiFamily246,579 SF
Sold 04/10/2020
the dealplayerscompscontact
Property Image
SOLD

Button Capital Limited Acquires Multifamily Property In Fountain Hills For $63.5M

16725 E Ave of the Fountains, Fountain Hills, AZ, USA

See Similar Deals
MultiFamily246,579 SF
Sold 04/10/2020
Tyler Anderson
Sean Cunningham
Rocco Mandala
+ 3
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$257
Total Square Footage:246,579 SF
Transaction Type:Sale

The multifamily property located at 16725 E Ave of the Fountains in Fountain Hills has been sold for $63,500,000. The transaction took place on April 10, 2020. The property consists of 230 units, with a price per unit of $276,086.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $63,500,000
  • Units: 230
  • Price Per Unit: $276,086
  • Address: 16725 E Ave of the Fountains, Fountain Hills
  • Market: Fountain Hills

The buyer of the property is Button Capital Limited, while the seller is Real Capital Solutions. The buyer's representatives in the deal were Rocco Mandala, Anthony Valenzuela, and Dominique @Damerell from CBRE Debt & Structured Finance. On the seller's side, Tyler Anderson, Sean Cunningham, Asher Gunter, and Matt Pesch represented CBRE.

Players

Matt Pesch
CBRE
Matt Pesch
15 deals$1.2B volume
BROKER
Rocco Mandala
CBRE
Rocco Mandala
3 deals$171.5M volume
BROKER
Tyler Anderson
CBRE
Tyler Anderson
2 deals$153.7M volume
BROKER
Anthony Valenzuela
CBRE
Anthony Valenzuela
1 deal$63.5M volume
BROKER
Sean Cunningham
CBRE
Sean Cunningham
13 deals$1.3B volume
BROKER
Asher Gunter
CBRE
Asher Gunter
14 deals$1.2B volume
BROKER
Real Capital Solutions (RCS)
Real Capital Solutions (RCS)
SELLER

Details

SOLD
IMAGE: Rocco Mandala, Dominique @Damerell , Tyler Anderson, Sean Cunningham & Asher Gunter DATE: 04/10/2020 ADDRESS: 16725 E Ave of the Fountains MARKET: Fountain Hills ASSET TYPE: Multifamily BUYER: Button Capital Limited SELLER: Real Capital Solutions BUYER’S REP: Rocco Mandala, Anthony Valenzuela & Dominique @Damerell - CBRE Debt & Structured Finance SELLER’S REP: Tyler Anderson, Sean Cunningham, Asher Gunter & Matt Pesch - CBRE PRICE: $63,500,000 UNITS: 230 PPU: $276,086

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,386,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$225,602.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$301,022.40
Annual Debt Service$3,612,268.75