New Standard Equities Acquires Multifamily Property In Upland For $81M
850 Benson Avenue, Upland, California 91786, United States
$81,000,000
$644/SF
Building Size
125,663 SF
Asset Type
MultiFamily
Closing
Jan 7, 2022
AI
The multifamily property located at 850 North Benson Avenue in Upland has been sold for a transaction amount of $81,000,000. The property consists of 236 units, with an average price per unit (PPU) of $343,220. The sale was finalized on 01/07/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $81,000,000
- Address: 850 North Benson Avenue
- Market: Upland
- Buyer: New Standard Equities - Edward Ring
- Seller: Abacus Capital Group
- Broker: Kevin Green - Marcus & Millichap
- Units: 236
- Price per Unit (PPU): $343,220
The buyer of the property is New Standard Equities, represented by Edward Ring. The seller is Abacus Capital Group. The broker involved in the transaction is Kevin Green from Marcus & Millichap. The successful sale of this multifamily property demonstrates the robust real estate market in Upland.
Players
Upland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93