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Jason Post Of Post Investment Group Acquires 160 Unit Multifamily Property In Santa Ana For $40.75M

Property Image
SOLD
$40,750,000

California

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MultiFamily
Sold 10/17/2024
the dealdetailscomps
Property Image
SOLD

Jason Post Of Post Investment Group Acquires 160 Unit Multifamily Property In Santa Ana For $40.75M

1100 Fairhaven Avenue

See Similar Deals
MultiFamily
Sold 10/17/2024
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

A 160-unit multifamily apartment property known as the Arbors was sold for $40.75 million, located at 1100 East Fairhaven Avenue in Santa Ana, California. The sale reflects a price per unit of $254,688. The property features renovated one- and two-bedroom units along with amenities such as a swimming pool, fitness center, and sports courts.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $40,750,000
  • Buyer: Jason Post - Post Investment Group
  • Seller: Robert A. and Cathleen Brett Revocable Trust
  • Broker: Kidder Mathews
  • Units: 160
  • PPU: $254,688
  • Financing: $29.81 million Freddie Mac loan at a 5.57 percent interest rate

This transaction involved key figures such as Jason Post, representing Post Investment Group as the buyer, and the Robert A. and Cathleen Brett Revocable Trust as the seller. Kidder Mathews acted as the broker facilitating the deal.

Details

SOLD
IMAGE: Jason Post DATE: 10/17/2024 ADDRESS: 1100 East Fairhaven Avenue MARKET: Santa Ana ASSET TYPE: Multifamily BUYER: Jason Post - Post Investment Group SELLER: Robert A. and Cathleen Brett Revocable Trust BROKER: Kidder Mathews (@Kidder.Mathews) SALE PRICE: $40,750,000 UNITS: 160 ~ PPU: $254,688 NOTE: Post Investment Group acquired the Arbors, a 160-unit apartment property in Santa Ana, California, for $40.75 million, or $254,687 per unit, from the Robert A. and Cathleen Brett Revocable Trust. The purchase was financed with a $29.81 million Freddie Mac loan at a 5.57 percent interest rate, and the property features renovated one- and two-bedroom units, along with amenities such as a swimming pool, fitness center, and sports courts.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$144,776.16
Cash-on-Cash Return-1.27%
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