Updated Oct 29, 2024
Forman Capital Provides $22.5M Loan For Development Site In Centerville, GA
3930 Us Highway 41 Warner Robins, Georgia 31093, Usa
$22,500,000
Building Size
—
Asset Type
Development Site
Closing
Aug 7, 2023
About this deal
AI
A $22.5 million loan has been provided by Forman Capital for the construction of a build-to-rent residential community at 3930 US Highway 41 in Centerville, Georgia. The property is a development site located in the thriving market of Centerville, GA.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $22,500,000
- Lender: Forman Capital
- Landlord: Parkland Homebuilders
Forman Capital, the lender, has facilitated the loan for the acquisition of the development site. Parkland Homebuilders will be working on the construction of a build-to-rent residential community at the address. This transaction represents a significant investment in the Centerville market, reflecting the growing demand for rental properties in the area.
Players
Kingman Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93