Fairfield Acquires Multifamily In East Village For $106M
SOLD
$106,000,000
California
See Similar DealsMultiFamily
Sold 04/07/2022
SOLD
Fairfield Acquires Multifamily In East Village For $106M
895 Park Boulevard, San Diego, California 92101, United States
See Similar DealsMultiFamily
Sold 04/07/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Located in East Village, the multifamily property at 895 Park Blvd. has recently been sold in a transaction facilitated by Darcy Miramontes and Kip Malo from JLL. The property was acquired by Fairfield from Lowe, represented by Mike McNerney and LaSalle Investment Management. The sale, which took place on April 7, 2022, amounted to a total of $106,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $106,000,000
- Address: 895 Park Blvd.
- Market: East Village
- Buyer: Fairfield
- Seller: Lowe - Mike McNerney & LaSalle Investment Management
- Brokers: Darcy Miramontes & Kip Malo - JLL
The property consists of 295 units, with an average price per unit of $359,322.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,653,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$376,595.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$502,494.08
Annual Debt Service$6,029,928.94
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