Updated Oct 29, 2024
Avanath Capital Management Acquires Multifamily Property In Anaheim Hills For $87.5M
145-235 South Festival Drive, Anaheim, CA, USA
$87,500,000
Units
261
Asset Type
MultiFamily
Closing
Apr 18, 2021
About this deal
AI
An apartment complex located at 145-235 South Festival Drive in Anaheim Hills has been sold for $87,500,000. The multifamily property consists of 261 units, with a price per unit of $335,249. The transaction took place on April 19, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $87,500,000
- Address: 145-235 South Festival Drive, Anaheim Hills
- Market: Anaheim Hills
- Buyer: Avanath Capital Management
- Seller: Security Properties
- Units: 261
- Price per Unit: $335,249
- Date: April 19, 2021
The buyer, Avanath Capital Management, acquired the property from the seller, Security Properties. The deal was facilitated by Daryl J. Carter, John Marasco, John R. Williams, Bob Krokower, and Jun Sakumoto.
Players
Anaheim 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93