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Tyler Pruett And Mike Farley Acquire Multifamily Asset In Phoenix For $46.5 Million

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SOLD
$46,500,000

Arizona

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MultiFamily143,687 SF
Sold 12/20/2024
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SOLD

Tyler Pruett And Mike Farley Acquire Multifamily Asset In Phoenix For $46.5 Million

9200 West Mcdowell Road

See Similar Deals
MultiFamily143,687 SF
Sold 12/20/2024
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Summary

ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$323
Total Square Footage:143,687 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 9200 West Mcdowell Road, Phoenix, AZ. The multifamily asset was sold for a total price of $46,500,000. It comprises 167 units, with a price per unit of $278,443. The total square footage is 143,687, resulting in a price per square foot of $323.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,500,000
  • Units: 167
  • Price Per Unit: $278,443
  • Square Footage: 143,687
  • Price Per Square Foot: $323
  • Buyer: Tyler Pruett & Mike Farley - Tower 16 Capital Partners
  • Broker: Jesse Hudson & Trevor Koskovich - NorthMarq

This transaction involved Tyler Pruett and Mike Farley representing Tower 16 Capital Partners as the buyers. The deal was facilitated by Jesse Hudson and Trevor Koskovich from NorthMarq, indicating the professional teams supporting the transaction and highlighting their roles in successfully executing the sale.

Players

Jesse Hudson
15 deals$564.1M volume
BROKER

Trevor Koskovich
NorthMarq
17 deals$704.1M volume
BROKER

Details

SOLD
IMAGE: Tyler Pruett, Mike Farley, Jesse Hudson & Trevor Koskovich DATE: 12/20/2024 ADDRESS: 9200 West Mcdowell Road MARKET: Phoenix, AZ ASSET TYPE: Multifamily BUYER: Tyler Pruett (@TylerMPruett) & Mike Farley - Tower 16 Capital Partners BROKERS: Jesse Hudson & Trevor Koskovich - NorthMarq (@NorthMarq) SALE PRICE: $46,500,000 UNITS: 167 ~ PPU: $278,443 SF: 143,687 ~ PPSF: $323

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,479,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$165,204.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$220,433.72
Annual Debt Service$2,645,204.68