Bruce Flatt's Brookfield Corp Buys Park Place Mall In Tucson, AZ For $87M
5870 East Broadway Boulevard
$87,000,000
$79/SF
Building Size
1,100,000 SF
Asset Type
Retail
Closing
Oct 5, 2023
About this deal
AI
Park Place Mall, located at 5870 E. Broadway, has been sold in a foreclosure auction for $87 million. The retail property spans 1,100,000 square feet, resulting in a price per square foot of $79.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $87,000,000
- Address: 5870 East Broadway Boulevard
- Market: Tucson, AZ
The seller of the property is Bruce Flatt from Brookfield Corp. This transaction signifies the successful conclusion of the foreclosure auction for Park Place Mall.
The retail sale at 5870 East Broadway Boulevard in Tucson, Arizona sold for $87M in 2023. The building is 1,100,000 square feet, implying about 79 per square foot on the published price. Bruce Flatt, Brookfield Properties appear on the sale alongside Brookfield Properties. This page is the Tucson, Arizona file for the 5870 East Broadway Boulevard retail sold: pricing, party profiles, and other closed retail comps from the same Tucson sit in the Market section below. Filter that Tucson retail set by closing date to see what else sold near 5870 East Broadway Boulevard around 2023. Published consideration for 5870 East Broadway Boulevard is $87M, dated 2023. Cite this Bruce Flatt's Brookfield Corp Buys Park Place Mall In Tucson, AZ For $87M sale when underwriting similar retail product around Tucson, Arizona.
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Tucson 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93