Updated Oct 28, 2024
Waterford Property Company Acquires Multifamily Property For $206M In Cameo & Garrison Market
Garrison Apartments, 1725 West Katella Avenue, Orange, CA, USA
$206,000,000
Units
356
Asset Type
MultiFamily
Closing
Sep 24, 2021
About this deal
AI
An undisclosed property located at 1055 West Town and Country Road and 1725 West Katella Avenue has been sold in a recent closed transaction. The asset, categorized as multifamily, was part of the Cameo and Garrison market. The sale was finalized on September 24, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $206,000,000
- Units: 356
- Price per Unit: $578,651
The buyer of the property was Waterford Property Company, represented by John Drachman and Sean Rawson from Standard Communities and California Statewide Community Development Authority. On the other side, Toll Brothers and BMV Marble LLC acted as the sellers. The brokerage team involved in the transaction included Joseph Smolen, Geoff Boler, and Lee Redmond from Eastdil Secured, as well as Tom Moran from Berkadia.
On the Map
$206,000,000
MultiFamily
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Players
Orange MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93