Updated Oct 28, 2024
Vantage Point Acquisitions Acquires Multifamily Property In Savannah, Georgia For $25.25M With Loan From Bridge Investment Group
101 Saint George Boulevard, Savannah, Georgia, USA
$25,250,000
$31/SF
Building Size
798,455 SF
Asset Type
MultiFamily
Closing
Nov 21, 2021
About this deal
AI
The multifamily property located at 101 Saint George Boulevard in Savannah, Georgia, has been involved in a recent transaction. The property consists of 220 units and was acquired by Vantage Point Acquisitions, represented by Andrew Cushman. The transaction took place on 11/21/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,250,000
- Address: 101 Saint George Boulevard, Savannah, Georgia
Bridge Investment Group provided a loan of $25,250,000 for the acquisition of the property. The loan is of the acquisition type and has a term of three years, with full-term interest-only payments. The loan carries an aggressive floating rate and includes two one-year extension options.
The brokers involved in the transaction were Mitch Sinberg, Jared Hill, and Matt Robbins from Berkadia.
Players
Savannah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93