DLM Real Estate LLC Acquires River Park Apartments In Yuma For $30.7M From FSO Capital Partners

The transaction involved the acquisition of a multifamily property located at 2575 West 24th Street in Yuma, AZ. DLM Real Estate LLC purchased the property from FSO Capital Partners for $30.7 million, with the price translating to $174,432 per square foot for the 176-unit River Park apartments. The property, built in 1985, was recently renovated for $1.48 million and is currently 98% occupied. In 2024, it generated a net operating income (NOI) of $1.82 million, reflecting a capitalization rate of 5.93%.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $30,700,000
• Buyer: DLM Real Estate LLC
• Seller: FSO Capital Partners
• Broker: Northmarq
• Loan Amount: $25,300,000
• Interest Rate: 3.85%
• Occupancy Rate: 98%
• Renovation Cost: $1,480,000
• Year Generated NOI: 2024
• Cap Rate: 5.93%

This deal was facilitated by Northmarq, representing the buyer, DLM Real Estate LLC. The transaction highlights the active involvement of these entities in the multifamily real estate sector in Yuma, AZ, signaling continued investment interest in this market.