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Logan Capital Advisors Acquires Summerlin Multifamily For $97.5M

Property Image
SOLD
$97,500,000
Taylor Sims
Carl Sims
Brady Cleary

Nevada

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MultiFamily
Sold 03/10/2022
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Property Image
SOLD

Logan Capital Advisors Acquires Summerlin Multifamily For $97.5M

8920 West Russell Road, Las Vegas, Nevada 89148, United States

See Similar Deals
MultiFamily
Sold 03/10/2022
Taylor Sims
Carl Sims
Brady Cleary
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:MultiFamily
Transaction Type:Sale

An multifamily property located at 8920 W. Russel Road in the Summerlin market has been sold for a total price of $97,500,000. The transaction took place on March 10, 2022. The property consists of 220 units, with a per unit price of $443,180.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $97,500,000
  • Units: 220
  • Price Per Unit: $443,180
  • Address: 8920 W. Russel Road
  • Market: Summerlin

The buyer of the property is Logan Capital Advisors, while the seller is Griffin Capital. The deal was facilitated by Taylor Sims, Carl Sims, and Brady Cleary from the Multifamily Advisory Group at Cushman & Wakefield.

Players

Taylor Sims
NorthMarq
Taylor Sims
3 deals$203M volume(702) 508-6981
BROKER
Brady Cleary
Cushman & Wakefield
Brady Cleary
3 deals$203M volume
BROKER
Carl Sims
Cushman & Wakefield
Carl Sims
2 deals$136M volume
BROKER
LC
Logan Capital
BUYER
GC
Griffin Capital
SELLER

Details

SOLD
IMAGE: Taylor Sims, Carl Sims & Brady Cleary DATE: 03/10/2022 ADDRESS: 8920 W. Russel Road MARKET: Summerlin ASSET TYPE: Multifamily BUYER: Logan Capital Advisors SELLER: Griffin Capital BROKERS: Taylor Sims, Carl Sims & Brady Cleary (Multifamily Advisory Group) - Cushman & Wakefield SALE PRICE: $97,500,000 UNITS: 220 ~ PPU: $443,180

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

$5,200,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$346,396.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$462,199.74
Annual Debt Service$5,546,396.91