Marcus & Millichap Brokers Secure $23M Acquisition Loan For 156-Unit Multifamily Property In Mesa, Arizona
FINANCED
$23,000,000
National
See Similar DealsMultiFamily122,545 SF
Financed 12/20/2022
FINANCED
Marcus & Millichap Brokers Secure $23M Acquisition Loan For 156-Unit Multifamily Property In Mesa, Arizona
MultiFamily122,545 SF
Financed 12/20/2022
Summary
Asset Type:MultiFamily
Price Per Square Foot:$187
Total Square Footage:122,545 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,000,000.00
Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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