Hoyer Investment Company Altama Acquires 745-Acre Development Site In Altama, Brunswick, GA
Exit 42 Interstate 95 Brunswick, Ga 31525, Usa
$11,500,000
Building Size
—
Asset Type
Development Site
Closing
Aug 21, 2023
AI
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
Eagle Lake Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93