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Hoyer Investment Company Altama Acquires 745-Acre Development Site In Altama, Brunswick, GA

Property Image
SOLD
$11,500,000

Georgia

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Development Site
Sold 08/21/2023
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Property Image
SOLD

Hoyer Investment Company Altama Acquires 745-Acre Development Site In Altama, Brunswick, GA

Exit 42 Interstate 95 Brunswick, Ga 31525, Usa

See Similar Deals
Development Site
Sold 08/21/2023
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:Development Site
Transaction Type:Sale

A 745-acre development site located at Exit 42 Interstate 95 in Altama, Brunswick, GA has been sold for $11.5 million. The master-planned community development was sold by Stratford Land SLF IV-GA Altama to Hoyer Investment Company Altama LLC. The sale was overseen by David Moore of Land Advisors Organization.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $11,500,000
  • Market: Brunswick, GA
  • Address: Exit 42 Interstate 95
  • Buyer: Hoyer Investment Company Altama LLC
  • Seller: Stratford Land SLF IV-GA Altama
  • Broker: David Moore - Land Advisors Organization

Land Advisors Organization's Atlanta office facilitated the sale of the 745-acre development site in Altama, Brunswick, GA to Hoyer Investment Company Altama LLC. The transaction represents a significant investment in the area and highlights the continued growth and development of the real estate market in Brunswick, GA.

Players

David Moore
David Moore
2 deals$23.1M volume(845) 745-0957
BROKER
SL
Stratford Land
SELLER

Details

SOLD
IMAGE: David Moore DATE: 08/21/2023 ADDRESS: Exit 42 Interstate 95 MARKET: Brunswick, GA ASSET TYPE: Development Site ~ ACRES: 745 BUYER: Hoyer Investment Company Altama LLC SELLER: Stratford Land SLF IV-GA Altama BROKER: David Moore - Land Advisors Organization SALE PRICE: $11,500,000 NOTE: Land Advisors Organization's Atlanta office has overseen the $11.5 million sale of a 745-acre master-planned community development in Altama, Brunswick, GA, to Hoyer Investment Company Altama LLC.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40