Redwood Partners Inc. Acquires Multifamily Asset At 1724 N Highland Ave For $132.5M
SOLD
$132,500,000
California
See Similar DealsMultiFamily
Sold 01/01/2017
SOLD
Redwood Partners Inc. Acquires Multifamily Asset At 1724 N Highland Ave For $132.5M
1724 N Highland Ave
See Similar DealsMultiFamily
Sold 01/01/2017
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multi-family asset located at 1724 N Highland Ave was sold for $132,500,000.00 in the Highland market. This transaction took place on January 1, 2017.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $132,500,000.00
- Address: 1724 N Highland Ave
- Market: Highland
- Date of Transaction: 01/01/2017
- Buyer: Redwood Partners Inc.
Derrek Ostrzyzek from CBRE represented the buyer, Redwood Partners Inc., in this transaction. The involvement of a brokerage indicates the nature of the assistance provided during the sale process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$470,744.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$628,117.60
Annual Debt Service$7,537,411.18
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