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DB Capital Management Acquires Multifamily Property In Las Vegas For $64M

Property Image
SOLD
$64,000,000
Jannie Mongkolsakulkit
Adam Schmitt
Spence Ballif
+ 3

Nevada

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MultiFamily
Sold 10/26/2022
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Property Image
SOLD

DB Capital Management Acquires Multifamily Property In Las Vegas For $64M

3050 S Nellis Blvd

See Similar Deals
MultiFamily
Sold 10/26/2022
Jannie Mongkolsakulkit
Adam Schmitt
Spence Ballif
+ 3
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 3050 S Nellis Blvd in Las Vegas, Nevada has been sold for a total price of $64,000,000. The transaction took place on October 26, 2022.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $64,000,000
  • Address: 3050 S Nellis Blvd
  • Market: Las Vegas, Nevada

The buyer, DB Capital Management represented by Brennen Degner and Chase Yim, acquired the property from the seller, Cottonwood Group. The deal was facilitated by brokers Spencer Ballif, Adam Schmitt, and Jannie Mongkolsakulkit from CBRE. The lender for the transaction was ubs''>UBS, and the mortgage broker involved was Shlomi Ronen from Dekel Capital.

The multifamily property consists of 296 units, with a per unit price of $216,216.

Players

Shlomi Ronen
Shlomi Ronen
4 deals$247M volume
BROKER
Spence Ballif
CBRE
Spence Ballif
4 deals$374.3M volume(702) 592-9433
BROKER
Adam Schmitt
CBRE
Adam Schmitt
3 deals$204.5M volume
BROKER
Jannie Mongkolsakulkit
CBRE
Jannie Mongkolsakulkit
2 deals$129.5M volume
BROKER
Brennen Degner
DB Capital Management
Brennen Degner
6 deals$133.6M volume
BUYER
Chase Yim
DB Capital Management
Chase Yim
1 deal$64M volume
BUYER
CG
Cottonwood Group
SELLER
UBS
UBS
LENDER

Details

SOLD
IMAGE: Brennen Degner & Chase Yim DATE: 10/26/2022 ADDRESS: 3050 S Nellis Blvd MARKET: Las Vegas, Nevada ASSET TYPE: Multifamily BUYER: DB Capital Management - Brennen Degner (@BDegner42) & Chase Yim (@ChaseYim) SELLER: Cottonwood Group BROKERS: Spencer Ballif, Adam Schmitt & Jannie Mongkolsakulkit - CBRE (@CBRE) LENDER: UBS MORTGAGE BROKER: Shlomi Ronen (@Shlomi.Ronen) - Dekel Capital (@DekelCapital) SALE PRICE: $64,000,000 UNITS: 296 ~ PPU: $216,216

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,413,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$227,378.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$303,392.65
Annual Debt Service$3,640,711.82