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402 West Lincoln Street

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

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

Marc Brutten

Brixton Capital

Buyer

$857.2M

vol

15 deals

Buyer
Joseph Keough

Joseph Keough

Wood Partners

Seller

$639M

vol

8 deals

Seller

Phoenix MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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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