Updated Oct 29, 2024
VareCo Refinances The Iris Multifamily Complex In Arvada, Colorado For $55.18M
9700 West 51st Place Arvada, Colorado 80002, USA
$55,180,000
Units
276
Asset Type
MultiFamily
Closing
Jun 21, 2023
About this deal
AI
The Iris, a 276-unit apartment complex located at 9700 West 51st Place in Arvada, Colorado, has undergone a cashout refinancing facilitated by JLL Capital Markets. The borrower, VareCo, secured a ten-year, fixed-rate, interest-only Fannie Mae loan valued at $55.18 million.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $55,180,000
- Units: 276
- Market: Arvada, CO
JLL brokers Tony Nargi and William Haass represented VareCo in this refinancing deal.
The multifamily loan at 9700 West 51st Place Arvada, Colorado 80002, USA in Arvada, Colorado financed for $55.2M in 2023. Reported inventory is 276 units across 276 units. Tony Nargi, William (Will) Haass, Terrance Doyle, JLL appear on the loan alongside JLL. This page is the Arvada, Colorado file for the 9700 West 51st Place Arvada, Colorado 80002, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Arvada sit in the Market section below. Filter that Arvada multifamily set by closing date to see what else financed near 9700 West 51st Place Arvada, Colorado 80002, USA around 2023. Published consideration for 9700 West 51st Place Arvada, Colorado 80002, USA is $55.2M, dated 2023. Cite this VareCo Refinances The Iris Multifamily Complex In Arvada, Colorado For $55.18M loan when underwriting similar multifamily product around Arvada, Colorado.
On the Map
$55,180,000
MultiFamily
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Players
Arvada MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93