Bender Companies Acquires Burbank Multifamily From Advantage Management For $20.5M
SOLD
$20,500,000
Illinois
See Similar DealsMultiFamily
Sold 07/11/2022
SOLD
Bender Companies Acquires Burbank Multifamily From Advantage Management For $20.5M
97 Pinehurst Court, Burbank, Illinois 60459, United States
See Similar DealsMultiFamily
Sold 07/11/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 97 Pinehurst Ct in Burbank has been sold. The transaction was completed on 07/11/2022, with a sale price of $20,500,000. The property consists of 173 units, resulting in a price per unit of $118,497. The buyer of the property was Bender Companies, represented by Kurt Bender. The seller was Advantage Management.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,500,000
- Units: 173
- Price Per Unit: $118,497
- Buyer: Bender Companies - Kurt Bender
- Seller: Advantage Management
- Market: Burbank
The buyer, represented by Kurt Bender from Bender Companies, acquired the multifamily property from Advantage Management. The transaction represents a significant investment in the Burbank market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$72,832.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,180.46
Annual Debt Service$1,166,165.50
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