Updated Oct 29, 2024
29th Street Capital Acquires Multifamily Property In Sacramento For $85.8M
Twp Nine Ave Sacramento, Ca 95811, Usa
$85,800,000
$57/SF
Building Size
1,500,000 SF
Asset Type
MultiFamily
Closing
May 17, 2023
About this deal
AI
The property involved in this closed transaction is located at Twp Nine Ave in Sacramento. It is a multifamily asset consisting of 372 units with a total square footage of 1,500,000. The transaction took place on 05/17/2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $85,800,000
- Loan Type: Construction Loan
The lender for this transaction was George Smith Partners. The landlord of the property is 29th Street Capital. Shahin Yazdi and Jonathan Lee from George Smith Partners represented the buyers as brokers in this deal.
Please note that no additional details were provided regarding other individuals or companies involved in this transaction.
On the Map
$85,800,000
$57/SF
MultiFamily
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Players
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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