Brixton Capital Acquires 300-Unit Alta Warehouse Multifamily In Phoenix For $82M
402 West Lincoln Street
$82,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 13, 2023
AI
The Alta Warehouse, a 300-unit apartment property located at 402 West Lincoln Street in Phoenix, AZ, has been sold for $82 million. The sale, facilitated by CBRE, was completed by buyer Marc Brutten of Brixton Capital and seller Joseph Keough of Wood Partners. The per-unit price for the property stands at $273,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $82,000,000
- Units: 300
- Price Per Unit: $273,333
- Buyer: Marc Brutten - Brixton Capital
- Seller: Joseph Keough - Wood Partners
- Broker: CBRE
Brixton Capital, a Solana Beach, California-based company, has acquired the Alta Warehouse, an apartment property consisting of 300 units, for a total of $82 million. The deal was facilitated by CBRE, and the buyer was Marc Brutten of Brixton Capital, while the seller was Joseph Keough of Wood Partners.
Players
Phoenix 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
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93