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Pacific Urban Residential Acquires 402-Unit Multifamily Property In Stamford, CT For $154M

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SOLD
$154,000,000

Connecticut

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MultiFamily1,650 SF
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Property Image
SOLD

Pacific Urban Residential Acquires 402-Unit Multifamily Property In Stamford, CT For $154M

200 Broad Street

See Similar Deals
MultiFamily1,650 SF
Sold
the dealplayerscompscontact
Contact now

Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$93333
Total Square Footage:1650 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 200 Broad Street in Stamford, CT. The transaction was completed with a sale price of $154,000,000 for a total of 402 units, resulting in a price per unit of $383,084.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $154,000,000
  • Address: 200 Broad Street
  • Market: Stamford, CT
  • Units: 402
  • Price Per Unit: $383,084
  • Seller: PGIM Real Estate - David Hunt
  • Buyer: Pacific Urban Residential - Al Pace
  • Brokers: CBRE

The key individuals involved in the deal include David Hunt representing the seller, PGIM Real Estate, and Al Pace representing the buyer, Pacific Urban Residential. CBRE acted as the brokerage firm facilitating the transaction.

Players

Alfred Pace
Pacific Urban Investors
Alfred Pace
11 deals$1.2B volume
BROKER
Alfred Pace
Alfred Pace
11 deals$1.2B volume
BUYER
PGIM
PGIM
SELLER
PGIM
PGIM
LENDER

Details

SOLD
IMAGE: Al Pace & David Hunt DATE: 07/14/2021 ADDRESS: 200 Broad Street MARKET: Stamford, CT ASSET TYPE: Multifamily SELLER: PGIM Real Estate - David Hunt BUYER: Pacific Urban Residential - Al Pace BROKERS: CBRE SALE PRICE: $154,000,000 UNITS: 402 ~ PPU: $383,084

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$547,129.48
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