Bridge Investment Group Acquires Multifamily Property In Suisun City For $72M
SOLD
$72,000,000
+ 2
California
See Similar DealsMultiFamily
Sold 04/14/2022
SOLD
Bridge Investment Group Acquires Multifamily Property In Suisun City For $72M
831 Pintail Drive, Suisun City, California 94585, United States
See Similar DealsMultiFamily
Sold 04/14/2022
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Bridge Investment Group has acquired a multifamily property in Suisun City for a sale price of $72,000,000. The property, located at 831 Pintail Drive, sits on 10.0 acres of land. The transaction was finalized on April 14, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $72,000,000
- Address: 831 Pintail Drive, Suisun City
- Market: Suisun City
- Total Acres: 10.0
The seller of the property was FPA Multifamily. Cushman & Wakefield represented the seller in the deal, with Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech serving as the seller's representatives.
The multifamily property consists of 224 units, with a price per unit (PPU) of $321,430.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,840,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$255,800.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$341,316.73
Annual Debt Service$4,095,800.79
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