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Eaton Vance Corp Acquires Griffin Apartments In Scottsdale For $127.78M
SOLD
$127,780,000
Arizona
See Similar DealsMultiFamily
Sold 07/05/2023
SOLD
Eaton Vance Corp Acquires Griffin Apartments In Scottsdale For $127.78M
3234 North Scottsdale Road Scottsdale, Arizona 85251, USA
See Similar DealsMultiFamily
Sold 07/05/2023
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The Griffin Apartments, located at 3234 North Scottsdale Road in Scottsdale, Arizona, have been sold for $127.78 million. The multifamily property consists of 277 units, with an average price per unit of $461,300.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $127,780,000
- Address: 3234 North Scottsdale Road, Scottsdale, AZ
- Market: Scottsdale, AZ
- Buyer: Eaton Vance Corp
- Seller: Starwood Real Estate Income Trust
- Units: 277
- Price Per Unit: $461,300
Eaton Vance Corp, a Boston-based investment manager, acquired the Griffin Apartments from Starwood Real Estate Income Trust.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,814,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$453,975.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$605,742.39
Annual Debt Service$7,268,908.68
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