VareCo Refinances The Iris Multifamily Complex In Arvada, Colorado For $55.18M
9700 West 51st Place Arvada, Colorado 80002, USA
$55,180,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 21, 2023
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.
Players
Arvada MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
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