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9160 North 67th Avenue

LM67 LLC Acquires Landmark On 67th Multifamily Property In Glendale, AZ For $16.2M
SOLDMultiFamily

LM67 LLC Acquires Landmark On 67th Multifamily Property In Glendale, AZ For $16.2M

$16,200,000

Building Size

Asset Type

MultiFamily

Closing

Oct 5, 2023

AI

CBRE facilitated the sale of Landmark on 67th, a Class A apartment community in Peoria, AZ. The property, located at 9160 N 67th Ave, was sold by RET3 LLC to LM67 LLC for $16.2 million. This equates to a price of $289,857 per unit.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,200,000
  • Address: 9160 N 67th Ave, Glendale, AZ
  • Market: Glendale, AZ

The sale was brokered by Brian Smuckler, Bryson Fricke, Derek Smigiel, and Jeff Seaman of CBRE. They played a crucial role in connecting the buyer, LM67 LLC, with the seller, RET3 LLC, and ensuring a successful transaction.

Players

Brian Smuckler

JLL

Broker

$53.3M

vol

4 deals

Broker

Market 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

0.98%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93