Updated Oct 28, 2024
MF Asset Management Acquires 301-Unit Multifamily Property In Tucson, AZ For $53.9M
7700 East Speedway Boulevard, Tucson, Arizona 85710, United States
$53,900,000
Units
301
Asset Type
MultiFamily
Closing
Jul 19, 2022
About this deal
AI
A multifamily property located at 7700 E Speedway Blvd in Tucson, AZ has been sold in a recent transaction. The property spans across 10 acres and consists of 301 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,900,000
- Address: 7700 E Speedway Blvd
- City: Tucson
- State: AZ
- Market: Tucson, AZ
- Acres: 10
- Buyer: MF Asset Management
- Seller: SB Pacific Group
- Brokers: Clint Wadlund, Hamid Panahi, Steve Gebing & Cliff David - Institutional Property Advisors
- Units: 301
- Price Per Unit: $179,070
The deal was facilitated by Clint Wadlund, Hamid Panahi, Steve Gebing, and Cliff David, who represent Institutional Property Advisors. They played a crucial role in connecting the buyer, MF Asset Management, with the seller, SB Pacific Group, in this transaction.
On the Map
$53,900,000
MultiFamily
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Tucson 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93