Friedkin Property Group Acquires Multifamily Asset In Evanston, IL From Barings For $65M
1930 Ridge Avenue, Evanston, IL, USA
$65,000,000
$44,982/SF
Building Size
1,445 SF
Asset Type
MultiFamily
Closing
Nov 10, 2021
AI
The 193-unit multifamily property located at 1930 Ridge Ave in Evanston, Il has been sold for $65,000,000. The sale was facilitated by Berkadia Institutional Solutions acting as the broker in the transaction. The buyer, Friedkin Property Group, represented by David Friedkin, acquired the property from the seller, Barings.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Address: 1930 Ridge Ave
- Market: Evanston, Il
The buyer, Friedkin Property Group led by David Friedkin, successfully purchased the property in the deal. Barings acted as the seller. The property, consisting of 193 units, was acquired at a price per unit of $336,788.
Players
Evanston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93