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Olympus Property Acquires Trailside Apartments In Flagstaff For $35.5M

Property Image
SOLD
$35,500,000

Arizona

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MultiFamily
Sold 08/21/2023
the dealdetailscomps
Property Image
SOLD

Olympus Property Acquires Trailside Apartments In Flagstaff For $35.5M

600 West University Heights Drive North Flagstaff, Arizona 86005, USA

See Similar Deals
MultiFamily
Sold 08/21/2023
the dealdetailscomps

Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

Trailside Apartments, a 111-unit multifamily community located at 600 W University Heights Dr N in Flagstaff, Arizona, has been sold by Chason Affinity Co to Olympus Property for a total of $35.5 million. The transaction was facilitated by a $22.5 million Fannie Mae loan arranged by mortgage broker Walker & Dunlop.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $35,500,000
  • Units: 111
  • Price per Unit: $319,820
  • Address: 600 W University Heights Dr N, Flagstaff, AZ
  • Market: Flagstaff, AZ

Olympus Property, the buyer in this transaction, has acquired Trailside Apartments from Chason Affinity Co. Walker & Dunlop, the mortgage broker, arranged a $22.5 million Fannie Mae loan to facilitate the deal. This acquisition marks a significant investment by Olympus Property in the Flagstaff, AZ multifamily market.

Players

Olympus Property
Olympus Property
BUYER
C
Co
SELLER

Details

SOLD
IMAGE: 08/21/2023 ADDRESS: 600 W University Heights Dr N MARKET: Flagstaff, AZ ASSET TYPE: MultiFamily BUYER: Olympus Property SELLER: Chason Affinity Co MORTGAGE BROKER: Walker & Dunlop SALE PRICE: $35,500,000 UNITS: 111 ~ PPU: $319,820 NOTE: Olympus Property has acquired Trailside Apartments, a 111-unit multifamily community in Flagstaff, Arizona, from Chason Affinity Cos for $35.5 million, facilitated by a $22.5 million Fannie Mae loan arranged by Walker & Dunlop.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$126,124.00
Cash-on-Cash Return-1.27%
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