Jake Millburn Of Millburn & Company Acquires Ascend At Black Canyon From D.R. Horton For $58.7M

The property asset involved in the transaction is a multifamily building located at 28201 North Black Canyon Highway in Phoenix, AZ. The sale price for the property was $58,700,000, which translates to a price per unit of $225,769 for the 260 units available in the complex.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $58,700,000
• Buyer: Jake Millburn - Millburn & Company
• Seller: Paul J. Romanowski - D.R. Horton
• Broker: Marcus & Millichap’s Institutional Property Advisors
• Units: 260
• Price Per Unit: $225,769
• Mortgage: $35.02 million provided by Berkadia

Jake Millburn represented Millburn & Company as the buyer in this transaction, while Paul J. Romanowski represented D.R. Horton as the seller. The successful deal was facilitated by Marcus & Millichap’s Institutional Property Advisors, which arranged the purchase financing.