Greenlight Communities Sells Multifamily Property In Mesa, AZ For $84M With Broker Steve Gebing & Cliff David
SOLD
$84,000,000
Arizona
See Similar DealsMultiFamily
Sold 06/07/2022
SOLD
Greenlight Communities Sells Multifamily Property In Mesa, AZ For $84M With Broker Steve Gebing & Cliff David
6151 South Power Road, Mesa, Arizona 85212, United States
See Similar DealsMultiFamily
Sold 06/07/2022
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 6151 S Power Rd in Mesa, AZ was recently sold for a total price of $84,000,000. The property consists of 244 units, with an average price per unit of $344,262.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $84,000,000
- Units: 244
- Price Per Unit: $344,262
The seller of the property was Greenlight Communities. The sale was facilitated by Steve Gebing and Cliff David from Institutional Property Advisors. They represented the seller in this transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,480,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$298,434.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$398,202.85
Annual Debt Service$4,778,434.26
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