Updated Oct 29, 2024
Security Properties Acquires Multifamily Property In Lacey, WA For $124M
6979 Birdseye Avenue Northeast, Lacey, Washington 98516, United States
$124,000,000
Units
393
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
The multifamily property located at 6979 Birdseye Ave NE in Lacey, WA has been sold. The property consists of 393 units and was sold for a total price of $124,000,000. This translates to an average price per unit of $315,522. The transaction took place on November 30, 2022. The buyer of the property was Security Properties, while the seller was Brogan Cos.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $124,000,000
- Address: 6979 Birdseye Ave NE, Lacey, WA
- Units: 393
- Price Per Unit: $315,522
- Buyer: Security Properties
- Seller: Brogan Cos
- Date: November 30, 2022
The transaction was facilitated by Security Properties' representative from their agency.
On the Map
$124,000,000
MultiFamily
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Players
Lacey 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93