Bridge Investment Group Holdings Acquires Orange County Multifamily From MG Properties For $283.5M
SOLD
$283,500,000
California
See Similar DealsMultiFamily615,500 SF
Sold 08/10/2022
SOLD
Bridge Investment Group Holdings Acquires Orange County Multifamily From MG Properties For $283.5M
2235 West Broadway, Anaheim, California 92804, United States
See Similar DealsMultiFamily615,500 SF
Sold 08/10/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$460
Total Square Footage:615,500 SF
Transaction Type:Sale
The multifamily property located at 2235 West Broadway in Orange County has been sold in a recent transaction. The sale was facilitated by MG Properties as the seller, and the buyer was Bridge Investment Group Holdings represented by Jonathan Slager.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $283,500,000
- Units: 768
- Price per Unit: $369,140
- Square Footage: 615,500
- Price per Square Foot: $460
Jonathan Slager, representing Bridge Investment Group Holdings, played a key role in the transaction as the buyer. The property offers 768 units with a price per unit of $369,140. Spanning across 615,500 square feet, the property was sold at a price per square foot of $460.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$15,120,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,007,215.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,343,934.63
Annual Debt Service$16,127,215.62
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