Opportunity Housing Group Acquires Multifamily Property In Fairfield For $70M
SOLD
$70,000,000
+ 2
California
See Similar DealsMultiFamily170,958 SF
Sold 09/22/2021
SOLD
Opportunity Housing Group Acquires Multifamily Property In Fairfield For $70M
3001 N Texas St, Fairfield, CA, USA
See Similar DealsMultiFamily170,958 SF
Sold 09/22/2021
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$409
Total Square Footage:170,958 SF
Transaction Type:Sale
The multifamily property located at 3001 North Texas St. in Fairfield was recently sold in a transaction facilitated by Salvatore Saglimbeni, Philip Saglimbeni, Stanford Jones, and Alex Tartaglia of Institutional Property Advisors. The property was purchased by Opportunity Housing Group, represented by Lauren Seaver and California Statewide Communities Development Authority. The sellers of the property were Angelo Gordon and Glencrest Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $70,000,000
- Address: 3001 North Texas St.
- Market: Fairfield
- Buyer: Opportunity Housing Group - Lauren Seaver & California Statewide Communities Development Authority
- Seller: Angelo Gordon & Glencrest Group
The transaction involved a total of 180 units, with a price per unit of $388,888. This sale marks a significant acquisition in the multifamily market in Fairfield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$248,695.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,835.71
Annual Debt Service$3,982,028.55
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