Updated Oct 28, 2024
Security Properties Acquires Bend Multifamily Property For $49.5M
1855 Northeast Lotus Drive, Bend, Oregon 97701, United States
$49,500,000
Units
168
Asset Type
MultiFamily
Closing
Aug 9, 2022
About this deal
AI
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
Bend MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93