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RREEF Property Trust Acquires 214-Unit Multifamily Asset In Castle Pines For $101M

Property Image
SOLD
$101,000,000
Matt Barnett
Jake Young
Taylor Payne

Colorado

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MultiFamily
Sold 11/19/2024
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Property Image
SOLD

RREEF Property Trust Acquires 214-Unit Multifamily Asset In Castle Pines For $101M

353 Edge View Circle

See Similar Deals
MultiFamily
Sold 11/19/2024
Matt Barnett
Jake Young
Taylor Payne
the dealplayerscompscontact
Contact now

Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Sale

The property involved is a 214-unit multifamily asset known as Citadel at Castle Pines, located at 353 Edge View Circle in Castle Pines, CO. The property was sold for $101,000,000, resulting in a per unit price of $471,963.

Summary of transaction details:

This transaction was executed on November 19, 2024, with Thompson Thrift represented by the brokers from Walker & Dunlop in the sale of the property to RREEF Property Trust.

Players

Jake Young
Walker & Dunlop
Jake Young
5 deals$541M volume(720) 784-3709
BROKER
Matt Barnett
Walker & Dunlop
Matt Barnett
5 deals$541M volume(720) 729-0112
BROKER
Taylor Payne
Walker & Dunlop
Taylor Payne
1 deal$101M volume
BROKER

Details

SOLD
IMAGE: 11/19/2024 ADDRESS: 353 Edge View Circle MARKET: Castle Pines, CO ASSET TYPE: Multifamily BUYER: RREEF Property Trust SELLER: Thompson Thrift BROKERS: Jake Young, Matt Barnett & Taylor Payne - Walker & Dunlop SALE PRICE: $101,000,000 UNITS: 214 ~ PPU: $471,963 NOTE: Thompson Thrift sold Citadel at Castle Pines, a 214-unit multifamily property in Castle Pines, Colo., to RREEF Property Trust for $101M, with Walker & Dunlop brokering the deal.

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

$5,386,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$358,831.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$478,791.53
Annual Debt Service$5,745,498.33