Ezralow Company Acquires Multifamily Portfolio In Gilbert For $238M
SOLD
$238,000,000
Arizona
See Similar DealsMultiFamily
Sold 10/18/2022
SOLD
Ezralow Company Acquires Multifamily Portfolio In Gilbert For $238M
3004 South Market Street, Gilbert, Arizona 85295, United States
See Similar DealsMultiFamily
Sold 10/18/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 3004 & 3134 S Market St in Gilbert, AZ has been sold for a price of $238,000,000. The property consists of 624 units, resulting in a price per unit of $381,410. The sale took place on October 18, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $238,000,000
- Units: 624
- Price Per Unit: $381,410
- Address: 3004 & 3134 S Market St, Gilbert, AZ
- Market: Gilbert, AZ
The buyer of the property is the Ezralow Company, while the seller is The Premiere Residential. The deal was facilitated by Sean Cunningham of CBRE, representing the buyer's side.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$845,563.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,128,241.42
Annual Debt Service$13,538,897.06
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