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12101 Northeast 28th Street

Haseko Corporation Acquires Multi-Housing Portfolio In Vancouver For $90M
SOLDMultiFamily

Haseko Corporation Acquires Multi-Housing Portfolio In Vancouver For $90M

12101 Northeast 28th Street & 711 Northeast 112th Avenue

$90,000,000

Building Size

Asset Type

MultiFamily

Closing

Apr 29, 2024

AI

The $90 million sale of a newly-built multi-housing portfolio in Vancouver, Washington has been recently facilitated by JLL Capital Markets. The portfolio consists of the 174-unit Villas at 28th located at 12101 Northeast 28th Street, and the 176-unit The Farmstead situated at 711 Northeast 112th Avenue.

Summary of transaction details:

Carrie Kahn, Frank Solorzano, and Ira Virden from JLL played crucial roles in representing both the buyer, Haseko Corporation, and the seller, Ginn Group, in this significant transaction.

Players

Ira Virden

JLL

Broker

$535.8M

vol

8 deals

Broker

Vancouver 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

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93