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Bruce Flatt's Brookfield Corp Buys Park Place Mall In Tucson, AZ For $87M
SOLD
$87,000,000
Arizona
See Similar DealsRetail1,100,000 SF
Sold 10/05/2023
SOLD
Bruce Flatt's Brookfield Corp Buys Park Place Mall In Tucson, AZ For $87M
5870 East Broadway Boulevard
See Similar DealsRetail1,100,000 SF
Sold 10/05/2023
Summary
ARIZONA
Asset Type:Retail
Price Per Square Foot:$79
Total Square Footage:1,100,000 SF
Transaction Type:Sale
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,639,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$309,092.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$412,424.39
Annual Debt Service$4,949,092.62
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