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3234 North Scottsdale Road ...

Eaton Vance Corp Acquires Griffin Apartments In Scottsdale For $127.78M
SOLDMultiFamily

Eaton Vance Corp Acquires Griffin Apartments In Scottsdale For $127.78M

3234 North Scottsdale Road Scottsdale, Arizona 85251, USA

$127,780,000

Units

277

Asset Type

MultiFamily

Closing

Jul 5, 2023

AI

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.

Players

Eaton Vance Corp
Eaton Vance CorpBuyer
Starwood Capital Group
Starwood Capital GroupSeller
Starwood Capital Group
Starwood Capital GroupLender

Scottsdale MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93