Updated Oct 29, 2024
Reliant Group Acquires Phoenix Manor Multifamily Property For $50M
2636 North 41st Avenue Phoenix, Arizona 85009, USA
$50,000,000
Units
450
Asset Type
MultiFamily
Closing
Jul 5, 2023
About this deal
AI
Reliant Group, based in San Francisco, has acquired Phoenix Manor, an age-restricted apartment property located at 2636 North 41st Avenue in Phoenix, Arizona. The property consists of 450 units and was sold by WGID Enterprises Inc for a total of $50 million, resulting in a price per unit of approximately $111,111.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Units: 450
- Price Per Unit: $111,1111
- Buyer: Reliant Group
- Seller: WGID Enterprises Inc
- Broker: Kidder Mathews
The transaction took place on 07/05/2023 in the Phoenix market. Kidder Mathews represented the buyer, Reliant Group, in the deal.
Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93