Raymond Arjmond's Affiliate Acquires Palm Valley Pavilions West Shopping Center In Goodyear For $59M
1478 North Litchfield Road
$59,000,000
$253/SF
Building Size
232,797 SF
Asset Type
Retail
Closing
Dec 28, 2023
AI
An affiliate of Raymond Arjmond has acquired the Palm Valley Pavilions West shopping center in Goodyear, Arizona, for $59 million. The property is a retail asset with a total square footage of 232,797. It is located at 1478 North Litchfield Road in the Goodyear market. The purchase price per square foot comes out to be $253.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $59,000,000
- Address: 1478 North Litchfield Road, Goodyear, AZ
- Square Footage: 232,797
- Buyer: Affiliate of Raymond Arjmond
- Seller: David Luski - DRA Advisors
This transaction marks a strategic move in the retail real estate market, as Raymond Arjmond's affiliate acquires the Palm Valley Pavilions West shopping center in Goodyear, Arizona for $59 million. The buyer and seller in this deal are represented by David Luski of DRA Advisors.
Players
Goodyear Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93