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TruAmerica Multifamily Acquires 164-Unit Multifamily Property In Glendale, AZ For $45.4M

Property Image
SOLD
$45,400,000
Chris Canter
Brett Polachek
Brad Goff

Arizona

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MultiFamily
Sold 06/02/2022
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Property Image
SOLD

TruAmerica Multifamily Acquires 164-Unit Multifamily Property In Glendale, AZ For $45.4M

5020 West Peoria Avenue, Glendale, Arizona 85302, United States

See Similar Deals
MultiFamily
Sold 06/02/2022
Chris Canter
Brett Polachek
Brad Goff
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 5020 W Peoria Ave in Glendale, AZ has been sold in a transaction. The property consists of 164 units and was acquired by TruAmerica Multifamily. The sale price for the property was $45,400,000, resulting in a price per unit of $276,829.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $45,400,000
  • Units: 164
  • Price Per Unit: $276,829
  • Buyer: TruAmerica Multifamily
  • Brokers: Brad Goff, Brett Polachek & Chris Canter - Newmark
  • Date: 06/02/2022
  • Address: 5020 W Peoria Ave
  • Market: Glendale, AZ

The deal was facilitated by the brokers Brad Goff, Brett Polachek, and Chris Canter from Newmark.

Players

Chris Canter
Newmark
Chris Canter
11 deals$630.6M volume
BROKER
Brett Polachek
Newmark
Brett Polachek
11 deals$630.6M volume
BROKER
Brad Goff
Newmark
Brad Goff
11 deals$630.6M volume
BROKER
TruAmerica Multifamily
TruAmerica Multifamily
BUYER

Details

SOLD
IMAGE: Brad Goff, Brett Polachek & Chris Canter DATE: 06/02/2022 ADDRESS: 5020 W Peoria Ave MARKET: Glendale, AZ ASSET TYPE: Multifamily BUYER: TruAmerica Multifamily BROKERS: Brad Goff, Brett Polachek & Chris Canter - Newmark SALE PRICE: $45,400,000 UNITS: 164 ~ PPU: $276,829

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,421,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$161,296.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$215,219.16
Annual Debt Service$2,582,629.94