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Greystar Acquires 264-Unit Multifamily Property In Inland Empire For $97M

Property Image
SOLD
$97,000,000

California

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MultiFamily260,000 SF
Sold 07/28/2022
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Property Image
SOLD

Greystar Acquires 264-Unit Multifamily Property In Inland Empire For $97M

9400 Fairway View Place

See Similar Deals
MultiFamily260,000 SF
Sold 07/28/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:260,000 SF
Transaction Type:Sale

The multifamily property located at 9400 Fairway View Pl. in the Inland Empire has been sold in a closed transaction. Spanning over 260,000 square feet, the property consists of 264 units. The sale price for this transaction was $97,000,000, resulting in an average price per unit of $367,424. The price per square foot was calculated at $373.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $97,000,000
  • Units: 264
  • Price per Unit: $367,424
  • Square Footage: 260,000
  • Price per Square Foot: $373
  • Address: 9400 Fairway View Pl.
  • Market: Inland Empire

This transaction involved the following key individuals and companies. Greystar acted as the buyer, while Acacia Capital served as the seller. The brokers representing both parties were Dean Zander and Stew Weston from CBRE.

Players

Dean Zander
34 deals$2.1B volume(310) 407-6522
BROKER

Stewart (Stew) Weston
25 deals$1.9B volume(562) 688-4500
BROKER

Greystar
BUYER

Details

SOLD
IMAGE: Stew Weston & Dean Zander DATE: 07/28/2022 ADDRESS: 9400 Fairway View Pl. MARKET: Inland Empire ASSET TYPE: Multifamily BUYER: Greystar SELLER: Acacia Capital BROKERS: Dean Zander & Stew Weston - CBRE SALE PRICE: $97,000,000 UNITS: 264 ~ PPU: $367,424 SF: 260,000 ~ PPSF: $373

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,173,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$344,620.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$459,829.49
Annual Debt Service$5,517,953.85