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Edison Real Estate Partners Secures $34.9 Million Loan For Covington Center Development In Georgia
FINANCED
$34,900,000
Georgia
See Similar DealsDevelopment Site
Financed 06/24/2025
FINANCED
Edison Real Estate Partners Secures $34.9 Million Loan For Covington Center Development In Georgia
329 Harold Dobbs Road
See Similar DealsDevelopment Site
Financed 06/24/2025
Summary
GEORGIA
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 329 Harold Dobbs Road, Covington, GA. The site is part of the Covington Center, which consists of 387 residential units and is financed with a senior construction loan amounting to $34,900,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $34,900,000
- Lender: Edison Real Estate Partners
- Broker: Daniel Eidson & Ben Applebaum - Concord Summit Capital
- Loan Type: Construction
The financing for this project was arranged by Concord Summit Capital, involved in facilitating the senior construction loan. Edison Real Estate Partners is the developer responsible for the residential project, which aims to enhance the housing landscape in Covington, Georgia.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,900,000.00
Monthly NOI$232,666.67
Monthly Debt Service$220,591.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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