Updated Dec 4, 2024
Haseko Corporation Acquires Multi-Housing Portfolio In Vancouver For $90M
12101 Northeast 28th Street & 711 Northeast 112th Avenue
$90,000,000
Units
174
Asset Type
MultiFamily
Closing
Apr 29, 2024
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Units: 174
- Price Per Unit: $517,241
- Buyer: Haseko Corporation
- Seller: Ginn Group
- Brokers: Carrie Kahn, Frank Solorzano & Ira Virden - JLL
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.
On the Map
$90,000,000
MultiFamily
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Players
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