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
About this deal
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