Updated Jan 31, 2025
IMT Residential Acquires Multifamily Asset At 421 W Broadway Long Beach For $124.3M
421 W Broadway
$124,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 1, 2018
About this deal
AI
The transaction involved a MultiFamily asset located at 421 W Broadway in Long Beach. The sale was finalized at a price of $124,300,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $124,300,000.00
- Sale Date: 07/01/2018
- Address: 421 W Broadway
- Market: Long Beach
- Buyer: IMT Residential
- Broker: Derrek Ostrzyzek (CBRE)
IMT Residential was the purchaser in this transaction, facilitated by broker Derrek Ostrzyzek representing CBRE. The deal showcases a significant investment in the Long Beach market, highlighting key players in the property sector.
On the Map
$124,300,000
MultiFamily
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Players
Long Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93