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Security Properties Acquires Bend Multifamily Property For $49.5M

Property Image
SOLD
$49,500,000

Oregon

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MultiFamily
Sold 08/10/2022
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Property Image
SOLD

Security Properties Acquires Bend Multifamily Property For $49.5M

1855 Northeast Lotus Drive, Bend, Oregon 97701, United States

See Similar Deals
MultiFamily
Sold 08/10/2022
the dealplayerscompscontact
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Summary

OREGON
Asset Type:MultiFamily
Transaction Type:Sale

Security Properties has completed the acquisition of a multifamily property located at 1855 NE Lotus Dr in Bend, OR. The property spans across 9.1 acres and features a total of 168 units. The sale price for this transaction was $49,500,000, which translates to an average price per unit of $294,643.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $49,500,000
  • Units: 168
  • Price per Unit: $294,643
  • Address: 1855 NE Lotus Dr, Bend, OR
  • Market: Bend, OR
  • Buyer: Security Properties
  • Broker: Nick Santangelo - CBRE

Nick Santangelo from CBRE represented Security Properties as the broker in this transaction.

Players

Nick Santangelo
CBRE
Nick Santangelo
15 deals$523.7M volume
BROKER
Security Properties
Security Properties
BUYER

Details

SOLD
IMAGE: Nick Santangelo DATE: 08/10/2022 ADDRESS: 1855 NE Lotus Dr MARKET: Bend, OR ASSET TYPE: Multifamily ~ ACRES: 9.1 BUYER: Security Properties BROKER: Nick Santangelo - CBRE SALE PRICE: $49,500,000 UNITS: 168 ~ PPU: $294,643

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

$2,640,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$175,863.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,655.25
Annual Debt Service$2,815,863.04