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Harbor Group International & Azure Partners Acquire Multifamily Asset In Santa Clarita For $230.3M

Property Image
SOLD
$230,250,000
Annie Rice
Jamie Leachman
+ 2

California

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MultiFamily
Sold 12/28/2021
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Property Image
SOLD

Harbor Group International & Azure Partners Acquire Multifamily Asset In Santa Clarita For $230.3M

17350 Humphreys Pkwy, Santa Clarita, California 91387, United States

See Similar Deals
MultiFamily
Sold 12/28/2021
Annie Rice
Jamie Leachman
+ 2
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

Harbor Group International and Azure Partners have acquired a multifamily property in Santa Clarita, located at 17350 Humphreys Pkwy. The transaction, facilitated by JLL brokers Peter Yorck and Nick Lavin, was completed on 12/28/2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $230,250,000
  • Units: 480
  • Price Per Unit: $479,687
  • Square Footage: 438,226
  • Price Per Square Foot: $525
  • Address: 17350 Humphreys Pkwy.
  • Market: Santa Clarita

The sellers of the property were JPI Development. The acquisition of this multifamily asset by Harbor Group International and Azure Partners marks a significant deal in Santa Clarita's real estate market.

Players

Nick Lavin
10 deals$1.4B volume
BROKER

Peter Yorck
JLL
10 deals$975.4M volume
BROKER

Jamie Leachman
JLL
14 deals$1.2B volume
BROKER

Annie Rice
JLL
13 deals$1.5B volume
BROKER

Brandon Smith
JLL
11 deals$1.3B volume
BROKER

Harbor Group International
BUYER


Details

SOLD
IMAGE: Peter Yorck & Nick Lavin DATE: 12/28/2021 ADDRESS: 17350 Humphreys Pkwy. MARKET: Santa Clarita ASSET TYPE: Multifamily BUYER: Harbor Group International & Azure Partners SELLER: JPI Development BROKERS: Peter Yorck (@TheYorcks) & Nick Lavin - JLL SALE PRICE: $230,250,000 UNITS: 480 ~ PPU: $479,687 SF: 438,226 ~ PPSF: $525

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$12,280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$818,029.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,091,502.47
Annual Debt Service$13,098,029.62