7301 16th St Phoenix, AZ 85020-5265

Property Details for 7301 16th St

Lot size

0.64 lot acres

Zone code

C-O

Property type

Commercial real estate

APN

164-24-014A

APU

16424014A

Description

This offering presents a portfolio of 16 performing second-position notes, boasting a 15% cap rate and a $15,571 pro-forma NOI. The pool comprises 11 cash flow assignments (mezzanine debt) and 5 preferred equity investments, all secured by underlying properties with low loan-to-value ratios. Twelve of the 16 notes are fully amortizing, with the remaining four at least 50% amortizing. Remaining terms range from 28 to 56 months. Each financing includes a personal guarantee from the deal sponsor, and either a UCC lien on the property-owning entity or a preferred equity position with the right to sell the asset after 60 days without distributions. The underlying assets encompass diverse property types, including multifamily (10), hotel (4), self-storage (1), and single-family (1), spread across eight states (Texas, Ohio, New Hampshire, New York, Florida, Arizona, Indiana, and Hawaii). The sale process involves a confidentiality agreement, proof of funds, and an introductory call. A minimum investment of $500,000 is required. Indicative bids are due March 13, 2024, with a target closing date of March 29, 2024. Due diligence materials, including loan tapes, deal one-pagers, executed contracts, entity documents, property documents, and sponsor background checks, are available upon completion of the confidentiality agreement and introductory call. The seller will prioritize bids based on purchase price, timing, certainty of execution, and investment size. Winning bidders must execute a purchase agreement and provide a 2% non-refundable deposit within 24 hours of the final bid due date.