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Hamilton Zanze & Company Acquires Multifamily Property In Colorado Springs For $110.1M

Property Image
SOLD
$110,088,000

Colorado

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MultiFamily
Sold 09/09/2022
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Property Image
SOLD

Hamilton Zanze & Company Acquires Multifamily Property In Colorado Springs For $110.1M

1203 Affirmed Vw, Colorado Springs, Colorado 80921, United States

See Similar Deals
MultiFamily
Sold 09/09/2022
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Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this closed transaction is a multifamily asset located at 1203 Affirmed View in Colorado Springs, CO. The property spans across an unspecified number of acres. The buyer, Hamilton Zanze & Company, acquired the property from the seller, Continental Properties Company, Inc. The deal was facilitated by brokers Nick Steele, John Laratta, Nate Moyer, and Tyler King from Berkadia. The sale price for the property was $110,088,000, with a total of 264 units. This translates to a price per unit (PPU) of $417,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $110,088,000
  • Address: 1203 Affirmed View
  • Market: Colorado Springs, CO
  • Buyer: Hamilton Zanze & Company
  • Seller: Continental Properties Company, Inc
  • Brokers: Nick Steele, John Laratta, Nate Moyer, and Tyler King - Berkadia
  • Units: 264
  • Price Per Unit (PPU): $417,000

The lender for this transaction was Freddie Mac, and the mortgage broker involved was Clay Akiwenzie from Berkadia. The loan amount provided was $58,145,000, and it was classified as permanent acquisition financing.

Players

Tyler King
5 deals$119.1M volume
BROKER

Clay Akiwenzie
Berkadia
2 deals$110.1M volume
BROKER

Hamilton Zanze
Hamilton Zanze & Company
4 deals$156.7M volume
BUYER

SELLER

Details

SOLD
IMAGE: & LOAN IMAGE: Nick Steele, Nate Moyer, John Laratta & Tyler King DATE: 09/09/2022 ADDRESS: 1203 Affirmed View MARKET: Colorado Springs, CO ASSET TYPE: Multifamily ~ ACRES: BUYER: Hamilton Zanze & Company SELLER: Continental Properties Company, Inc BROKERS: Nick Steele, John Laratta, Nate Moyer & Tyler King - Berkadia LENDER: Freddie Mac MORTGAGE BROKER: Clay Akiwenzie - Berkadia SALE PRICE: $110,088,000 UNITS: 264 ~ PPU: $417,000 LOAN AMOUNT: $58,145,000 LOAN TYPE: Permanent acquisition financing

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

$5,871,360.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$391,119.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,873.28
Annual Debt Service$6,262,479.41