@robbiehendricks $150k/un is not a pretty solid basis. This asset is in one of Phoenix’ worst sub markets (Maryvale) with low incomes and high crime rates. Plus this asset has small units (avg ~600SF).
This pricing actually feels expensive and they are paying full price.
@davidellebrecht@FARlikewhoa I think there’s more to the story here considering he is also in the market to sell a 250-unit Santa Clarita asset. He also sold a core-plus community in Montclair, CA in 2023.
@LA_Multi_Fam With Fannie or Freddie we are seeing 4.75% rate on a 5-year term with a buydown (2.0%) if it has ‘mission-driven’ rents. Around 5.1-5.2% without the buydown.
@robbiehendricks Does this structure allow you as a GP to take a 15% or 20% (depending on the split of the deal) share of the depreciation? I have seen managers employ this structure with that depreciation allocation.
@PrinceTeapot@Never_Again2020 Anti-Colonial 😂😂 Jews have one fucking country. ONE. There are 22 Arab countries what colonialism are you speaking of? Go research Jewish population in Tunisia, Yemen, Iraq, Iran, Morocco 50 years ago vs today and tell me…
@TheTankGuns This is fake news. It literally says Arcadia (not Palisades) at the bottom of the video and the date is wrong… It says Jan 10th when the fire started Jan 7th.