Updated Dec 4, 2024
Mike Farley And Tyler Pruett Of Tower 16 Capital Partners Acquire Multifamily Asset In Glendale For $52M
7601 West Glendale Avenue
$52,000,000
$261/SF
Building Size
198,828 SF
Asset Type
MultiFamily
Closing
Jul 18, 2024
About this deal
AI
The asset involved in this transaction is a multifamily property located at 7601 West Glendale Avenue in Glendale, Arizona. The sale price for the property was $52,000,000, which corresponds to a price per unit of $240,741. The total square footage of the asset is 198,828, equating to a price per square foot of $262. The property consists of 216 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $52,000,000
- Units: 216
- PPU: $240,741
- SF: 198,828
- PPSF: $262
- Buyer: Mike Farley & Tyler Pruett - Tower 16 Capital Partners
- Broker Representatives: David Fogler & Steven Nicoluzakis - Cushman & Wakefield
Key individuals involved in the transaction include buyers Mike Farley and Tyler Pruett from Tower 16 Capital Partners. The brokers representing the deal were David Fogler and Steven Nicoluzakis from Cushman & Wakefield, facilitating the transaction and ensuring the process was completed efficiently.
On the Map
$52,000,000
$261/SF
MultiFamily
View full map
Players
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Steven Nicoluzakis to view all their deals.
Browse Arizona multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93