Tides Equities LLC Acquires 274-Unit Multifamily In Phoenix For $59.6M
SOLD
$59,600,000
Arizona
See Similar DealsMultiFamily
Sold 12/01/2021
SOLD
Tides Equities LLC Acquires 274-Unit Multifamily In Phoenix For $59.6M
4620 West Mcdowell Road, Phoenix, Arizona 85035, United States
See Similar DealsMultiFamily
Sold 12/01/2021
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 4620 W McDowell Rd in Phoenix, AZ was recently sold for a total of $59,600,000. The property consists of 274 units, resulting in a per unit price of approximately $217,518. The transaction took place on 12/01/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $59,600,000
- Address: 4620 W McDowell Rd, Phoenix, AZ
- Market: Phoenix, AZ
- Buyer: Tides Equities LLC
- Seller: Western Wealth Capital & Prospect Ridge
- Brokers: Brett Polachek, Brad Goff & Chris Canter - Newmark
The sale was facilitated by the brokers Brett Polachek, Brad Goff, and Chris Canter from Newmark. They represented the buyer, Tides Equities LLC, as well as the sellers, Western Wealth Capital and Prospect Ridge.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,178,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$211,746.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$282,534.41
Annual Debt Service$3,390,412.88
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