Updated Jan 16, 2025
Eastman Residential Purchases Multifamily Asset From HSRE In Evans Colorado For $21 Million
3202 11th Avenue
$21,000,000
$102/SF
Building Size
205,248 SF
Asset Type
MultiFamily
Closing
Dec 27, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily asset located at 3202 11th Avenue, Evans, CO. The sale was completed for a total of $21,000,000. The asset comprises 192 units, covering a total square footage of 205,248. The price per unit was calculated at $109,375, while the price per square foot is noted to be $102.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Units: 192
- Square Footage: 205,248
- Price Per Unit: $109,375
- Price Per Square Foot: $102
- Buyer: Eastman Residential - Zachary Schofel & Marc Schofel
- Seller: HSRE (Harrison Street Real Estate)
- Brokers: Teddy Leatherman & Scott Clifton - JLL
This transaction features Zachary Schofel and Marc Schofel representing the buyer, Eastman Residential, while HSRE (Harrison Street Real Estate) is the seller of the property. The brokerage representation for this deal was provided by Teddy Leatherman and Scott Clifton from JLL.
Players
Evans MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $102 per square foot on a published $21M for 205,248 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93