Updated almost 5 years ago on . Most recent reply
Rise Melrose Apartments
Investment Info:
Large multi-family (5+ units) buy & hold investment in Phoenix.
Purchase price: $18,400,000
Cash invested: $5,900,000
RISE MELROSE
(Formerly Revival on Indian School)
96 UNITS
Phoenix, AZ
Acquisition Date : May 2021
Purchase Price : $18.4M
Down Payment and Renovation Costs : $5.9M
Loan : 3-Yr Adjustable Interest Rate, Non-Recourse Bridge Loan
Deal Structure : 506(B) Syndication
Unit Mix : 96 2BR/1BA
Projected Hold : 2-5 Years
