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ColRich Acquires Seasons At Farmington Reserve Multifamily In Bend For $63.1M
SOLD
$63,100,000
Oregon
See Similar DealsMultiFamily
Sold 08/30/2023
SOLD
ColRich Acquires Seasons At Farmington Reserve Multifamily In Bend For $63.1M
61560 Aaron Way Bend, OR 97702, USA
See Similar DealsMultiFamily
Sold 08/30/2023
Summary
OREGON
Asset Type:MultiFamily
Transaction Type:Sale
The Seasons at Farmington Reserve, a 228-unit multifamily property located at 61560 Aaron Way in Bend, Oregon, has been sold for $63.1 million. The property was acquired by ColRich, a San Diego developer, from Security Properties of Seattle.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,100,000
- Address: 61560 Aaron Way, Bend, OR
- Market: Bend, OR
- Buyer: ColRich
- Seller: Security Properties
- Units: 228
- Price Per Unit: $276,754
ColRich, known for its real estate developments in San Diego, has completed the purchase of the Seasons at Farmington Reserve. The acquisition of this multifamily property aligns with the company's strategic expansion plans.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,365,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$224,180.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$299,126.19
Annual Debt Service$3,589,514.31
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