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CALCAP Advisors Acquires Multifamily Asset Solana Place In Casa Grande From D.R. Horton For $30M
SOLD
$30,000,000
Arizona
See Similar DealsMultiFamily
Sold 10/14/2025
SOLD
CALCAP Advisors Acquires Multifamily Asset Solana Place In Casa Grande From D.R. Horton For $30M
18 South Boniface Lane
See Similar DealsMultiFamily
Sold 10/14/2025
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved a multifamily asset located at 18 South Boniface Lane in Casa Grande, AZ. The property, known as Solana Place at Carlton Commons, consists of 113 units, with a sale price of $30 million, equating to approximately $265,000 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Units: 113
- Price Per Unit: $265,487
- Buyer: CALCAP Advisors
- Seller: D.R. Horton
- Broker: Northmarq
- Loan Amount: $21.75 million
Northmarq represented the seller, D.R. Horton, in this transaction and facilitated a Fannie Mae loan, enhancing the financial framework for the recently constructed property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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