Bridge Investment Group Acquires Multifamily Portfolio In Tucson, AZ For $75.1M
SOLD
$75,100,000
Arizona
See Similar DealsMultiFamily
Sold 11/30/2021
SOLD
Bridge Investment Group Acquires Multifamily Portfolio In Tucson, AZ For $75.1M
8600 East Old Spanish Trail, Tucson, Arizona 85710, United States
See Similar DealsMultiFamily
Sold 11/30/2021
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 8600 E Old Spanish Trail, 2800 Mission Rd, and 6340 S Santa Clara Ave in Tucson, AZ has been sold for a total of $75,100,000. The property consists of 566 units and was part of the recent transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $75,100,000
- Units: 566
- Location: Tucson, AZ
The buyer in this transaction was Bridge Investment Group, while the seller was Monarch Investment and Management Group. The deal was facilitated by Hamid Panahi, Steve Gebing, and Cliff David from Institutional Property Advisors, a division of Marcus & Millichap.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,005,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,814.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$356,012.31
Annual Debt Service$4,272,147.77
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