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Borello Asset Management Acquires 197-Unit Multifamily Building In Fort Collins For $65M
SOLD
$65,000,000
Colorado
See Similar DealsMultiFamily
Sold 09/28/2023
SOLD
Borello Asset Management Acquires 197-Unit Multifamily Building In Fort Collins For $65M
281 Willow Street
See Similar DealsMultiFamily
Sold 09/28/2023
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Sale
CA Ventures has successfully sold 281 Willow, a newly constructed, 197-unit Class A apartment building in Fort Collins, Colorado, for $65 million. The property is located at 281 Willow Street in the Fort Collins market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Units: 197
- Price Per Unit: $329,949
- Buyer: Chris Borello - Borello Asset Management Inc
- Seller: Tom Scott & John Diedrich - CA Ventures
- Broker: Walker & Dunlop
Chris Borello, representing Borello Asset Management Inc, acted as the buyer in this transaction. The seller, Tom Scott, and John Diedrich, represented CA Ventures. Walker & Dunlop served as a broker in the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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