Benedict Canyon Equities Acquires Spokane Multifamily For $145M
SOLD
$145,000,000
Washington
See Similar DealsMultiFamily
Sold 08/30/2022
SOLD
Benedict Canyon Equities Acquires Spokane Multifamily For $145M
12707 East Mansfield Avenue, Spokane, Washington 99216, United States
See Similar DealsMultiFamily
Sold 08/30/2022
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 12707 East Mansfield Ave in Spokane, WA has been sold in a closed transaction. The sale took place on August 30, 2022. The property consists of 559 units, resulting in a per-unit price of $259,392. The total sale price for the property was $145,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $145,000,000
- Units: 559
- Price Per Unit: $259,392
The buyer in this transaction was Benedict Canyon Equities. No additional information is available about the involved parties or brokers in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$515,154.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$687,373.98
Annual Debt Service$8,248,487.71
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