Jason McCool Acquires 369-Unit Multifamily Property In Tempe For $111.7M
SOLD
$111,700,000
Arizona
See Similar DealsMultiFamily
Sold 08/09/2022
SOLD
Jason McCool Acquires 369-Unit Multifamily Property In Tempe For $111.7M
1701 East Don Carlos Avenue, Tempe, Arizona 85281, United States
See Similar DealsMultiFamily
Sold 08/09/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1701 E Don Carlos and 1701 E 8th St in Tempe, AZ, has been sold in a recent transaction. The property consists of 369 units and was sold for a total price of $111,700,000, resulting in a per-unit price of $302,710.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $111,700,000
- Units: 369
- Price per Unit: $302,710
- Buyer: Jason McCool
- Seller: Avanti Residential & KKR Real Estate
- Brokers: Brad Goff, Brett Polachek & Chris Canter - Newmark
The deal was facilitated by the brokers Brad Goff, Brett Polachek, and Chris Canter from Newmark. They represented the buyer, Jason McCool, in this transaction.
Players
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,957,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$396,846.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$529,514.99
Annual Debt Service$6,354,179.84
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