Harbor Group International & Azure Partners Acquire Multifamily Asset In Santa Clarita For $230.3M
SOLD
California
See Similar DealsMultiFamily
Sold 12/28/2021
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 DealsMultiFamily
Sold 12/28/2021
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
BUYER
LENDER
Details
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Deal Type
30 years
10 years
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
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