Updated Oct 29, 2024
CBRE Facilitates $27.2M Sale Of Proximity Baseline, Build-to-Rent Property In Phoenix
1700 East Baseline Road Phoenix, Az 85042, Usa
$27,200,000
Units
80
Asset Type
Single Family Residence
Closing
Aug 3, 2023
About this deal
AI
CBRE has facilitated the sale of Proximity Baseline, an 80-unit build-to-rent property located at 1700 East Baseline Road in Phoenix, AZ. The property was sold by Avenue North to CVG Properties for a total price of $27,200,000.
Summary of transation details
- Property Type: SFR
- Transaction Amount: $27,200,000
- Market: Phoenix, AZ
Asher Gunter, Austin Groen, Griffen Tymins, Matt Pesch, and Sean Cunningham from CBRE represented the buyer and seller in this transaction. They worked diligently to secure the deal for Proximity Baseline.
On the Map
$27,200,000
Single Family Residence
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Players
Greenwich Single Family Residence Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93