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Sunrise Multifamily & Ascent Equity Group Acquire Cabana Encanto In Goodyear, AZ For $61M
SOLD
$61,000,000
Arizona
See Similar DealsMultiFamily
Sold 08/03/2023
SOLD
Sunrise Multifamily & Ascent Equity Group Acquire Cabana Encanto In Goodyear, AZ For $61M
2323 North 150th Drive Goodyear, Arizona 85395, USA
See Similar DealsMultiFamily
Sold 08/03/2023
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
Cabana Encanto, a multifamily asset located at 2323 North 150th Dr in Goodyear, Arizona, has been sold for $61 million. The property spans across 8.8 acres and consists of 268 units. The sale price equates to approximately $227,612 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Address: 2323 North 150th Dr, Goodyear, AZ
- Market: Goodyear, AZ
- Acres: 8.8
The buyer of Cabana Encanto is Sunrise Multifamily & Ascent Equity Group, while the seller is Greenlight Communities. The deal was facilitated by Cliff David and Steve Gebing of Institutional Property Advisors (IPA). The transaction was announced on 08/03/2023.
It is important to note that Cabana Encanto is an attainable housing asset. The sale of this property showcases the robust demand for such housing in the Goodyear, Arizona market. The deal marks a significant investment in the multifamily sector in the area, contributing to the overall growth and development of the real estate market in Goodyear.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$216,720.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$289,171.12
Annual Debt Service$3,470,053.45
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