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WhiteHaven Acquires Clarendon Park Multifamily In Phoenix For $37M

Property Image
SOLD
$37,000,000
Jeff Seaman
Bryson Fricke
Matt Pesch
+ 1

Arizona

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MultiFamily
Sold 07/13/2023
the dealplayerscompscontact
Property Image
SOLD

WhiteHaven Acquires Clarendon Park Multifamily In Phoenix For $37M

222 West Clarendon Avenue Phoenix, AZ 85013, USA

See Similar Deals
MultiFamily
Sold 07/13/2023
Jeff Seaman
Bryson Fricke
Matt Pesch
+ 1
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

WhiteHaven has acquired Clarendon Park, a 138-unit multifamily community in Phoenix, for $37 million. The property, located at 222 West Clarendon Avenue, is a valuable asset in the Phoenix market. With a purchase price of $37 million, it translates to an average price per unit of $268,116.

Summary of transaction details

Matt Pesch, Austin Groen, Jeff Seaman, and Bryson Fricke from CBRE represented WhiteHaven in this transaction. Their expertise and negotiation skills played a vital role in securing the acquisition of Clarendon Park. The deal demonstrates WhiteHaven's commitment to expanding its multifamily portfolio in the Phoenix market.

Players

Matt Pesch
CBRE
Matt Pesch
15 deals$1.2B volume
BROKER
Jeff Seaman
JLL
Jeff Seaman
4 deals$85.8M volume(602) 295-1660
BROKER
Bryson Fricke
JLL
Bryson Fricke
4 deals$85.8M volume(480) 450-0717
BROKER
Austin Groen
CBRE
Austin Groen
13 deals$1.1B volume(602) 735-1706
BROKER

Details

SOLD
IMAGE: Matt Pesch, Austin Groen, Jeff Seaman & Bryson Fricke DATE: 07/13/2023 ADDRESS: 222 West Clarendon Avenue MARKET: Phoenix, AZ ASSET TYPE: Multifamily BUYER: WhiteHaven BROKERS: Matt Pesch, Austin Groen, Jeff Seaman & Bryson Fricke - CBRE SALE PRICE: $37,000,000 UNITS: 138 ~ PPU: $268,116 NOTE: WhiteHaven has acquired Clarendon Park, a 138-unit multifamily community in Phoenix, for $37 million.

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

$1,973,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52