Updated Dec 18, 2023
Institutional Property Advisors Sell Scottsdale Multifamily Property For $150M
7115 East Mcdowell Road, Scottsdale, Arizona 85257, United States
$150,000,000
Units
274
Asset Type
MultiFamily
Closing
Oct 27, 2022
About this deal
AI
The multifamily property located at 7115 E McDowell Rd in Scottsdale, AZ has been sold for a total price of $150,000,000. The transaction was handled by brokers Steve Gebing and Cliff David from Institutional Property Advisors. The property consists of 274 units, with a price per unit of $547,445.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Address: 7115 E McDowell Rd, Scottsdale, AZ
- Market: Scottsdale, AZ
- Brokers: Steve Gebing & Cliff David - Institutional Property Advisors
- Units: 274
- Price Per Unit: $547,445
The transaction highlights the successful collaboration between brokers Steve Gebing and Cliff David, representing Institutional Property Advisors. Their expertise and negotiation skills facilitated the smooth completion of this multifamily property sale.
Players
Scottsdale 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93