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Brixton Capital Acquires 300-Unit Alta Warehouse Multifamily In Phoenix For $82M

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SOLD
$82,000,000

Arizona

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MultiFamily
Sold 10/13/2023
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Property Image
SOLD

Brixton Capital Acquires 300-Unit Alta Warehouse Multifamily In Phoenix For $82M

402 West Lincoln Street

See Similar Deals
MultiFamily
Sold 10/13/2023
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

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

Marc Brutten
15 deals$857.2M volume
BUYER

Joseph Keough
Wood Partners
8 deals$639M volume
SELLER

Details

SOLD
IMAGE: Marc Brutten & Joseph Keough DATE: 10/13/2023 ADDRESS: 402 West Lincoln Street MARKET: Phoenix, AZ ASSET TYPE: Multifamily BUYER: Marc Brutten - Brixton Capital SELLER: Joseph Keough - Wood Partners BROKER: CBRE SALE PRICE: $82,000,000 UNITS: 300 ~ PPU: $273,333 NOTE: Brixton Capital, based in Solana Beach, California, has acquired the Alta Warehouse, a 300-unit apartment property in Phoenix, for $82 million, with a per-unit price of $273,333.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$291,328.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$388,721.83
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