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Vantage Point Acquisitions Acquires Multifamily Property In Savannah, Georgia For $25.25M With Loan From Bridge Investment Group

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FINANCED
$25,250,000
Jared Hill
Mitch Sinberg
Matthew (Matt) Robbins

Georgia

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MultiFamily798,455 SF
Financed 11/21/2021
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Property Image
FINANCED

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

See Similar Deals
MultiFamily798,455 SF
Financed 11/21/2021
Jared Hill
Mitch Sinberg
Matthew (Matt) Robbins
the dealplayerscompscontact
Contact now

Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$31
Total Square Footage:798,455 SF
Transaction Type:Loan

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

Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Jared Hill
Berkadia
Jared Hill
5 deals$242.3M volume
BROKER
Bridge Investment Group
Bridge Investment Group
LENDER
VA
Vantage Point Acquisitions
LANDLORD

Details

FINANCED
IMAGE: Matt Robbins, Mitch Sinberg, Andrew Cushman & Jared Hill DATE: 11/21/2021 ADDRESS: 101 Saint George Boulevard MARKET: Savannah, Georgia ASSET TYPE: Multifamily ~ UNITS: 220 LENDER: Bridge Investment Group LANDLORD: Vantage Point Acquisitions - Andrew Cushman BROKERS: Mitch Sinberg, Jared Hill & Matt Robbins - Berkadia LOAN AMOUNT: $25,250,000 LOAN TYPE: Acquisition LOAN TERMS: three-year, full-term interest-only with an aggressive floating rate and two one-year extension options

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,250,000.00

Monthly NOI$168,333.33
Monthly Debt Service$159,597.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00