Albion Residential Acquires Multifamily Property In Palatine, IL For $94.2M
975 N Sterling Ave, Palatine, Illinois, USA
$94,200,000
$12/SF
Building Size
7,351,100 SF
Asset Type
MultiFamily
Closing
Sep 24, 2021
AI
The Albion Residential has acquired a multifamily property located at 975 N Sterling Ave in Palatine, IL. The property consists of 719 units and was sold in an acquisition deal. The transaction was facilitated by Matt Schoenfeldt from JLL Capital Markets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $94,200,000
- Date: 09/24/2021
- Address: 975 N Sterling Ave, Palatine, IL
- Market: Palatine, IL
- Units: 719
Matt Schoenfeldt, representing JLL Capital Markets, played a crucial role in securing the acquisition deal for Albion Residential. The transaction involved a loan amount of $94,200,000.
Players
Palatine MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93