Marcus & Millichap Brokers Secure $23M Acquisition Loan For 156-Unit Multifamily Property In Mesa, Arizona
$23,000,000
$187/SF
Building Size
122,545 SF
Asset Type
MultiFamily
Closing
Dec 20, 2022
AI
A multifamily property located in Mesa, Arizona has been transacted in a closed deal. The property consists of 156 units and spans approximately 122,545 square feet. The transaction was facilitated by brokers Stefen Chraghchian and Sharone Sabar from Marcus & Millichap.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Loan Type: Acquisition Loan
- Loan Terms: 5.375% Rate, 5-YR Fixed, No Prepayment Penalty
The acquisition loan obtained for this transaction amounts to $23,000,000. It is an acquisition loan with a fixed rate of 5.375% and a term of 5 years. There are no prepayment penalties associated with the loan.
Players
Mesa, Arizona 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93