InTrust Property Partners Acquires Phoenix Multifamily For $63.1M
SOLD
$63,100,000
+ 1
Arizona
See Similar DealsMultiFamily
Sold 08/09/2022
SOLD
InTrust Property Partners Acquires Phoenix Multifamily For $63.1M
2020 West Glendale Avenue, Phoenix, Arizona 85021, United States
See Similar DealsMultiFamily
Sold 08/09/2022
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
An undisclosed multifamily property located at 2020 W Glendale Ave in Phoenix, AZ has been sold in a recent transaction. The property consists of 256 units and was sold for a total of $63,100,000, resulting in an average price per unit of $246,484.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $63,100,000
- Number of Units: 256
- Price Per Unit: $246,484
The buyer of the property is InTrust Property Partners, while Renue Properties acted as the seller. The transaction was facilitated by Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle from the agency Northmarq, who represented both parties in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,365,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$224,180.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$299,126.19
Annual Debt Service$3,589,514.31
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