Updated Dec 21, 2023
Berkadia Arranges $87.8M Bridge Loan For Multifamily Portfolio Acquisition In Gainesville, Moultrie, Carrollton, Athens, Newnan, Elberton, Jesup, Fort Valley, Augusta, Dalton, Douglas, Milledgeville, GA & Easley, SC
1360 Otila Drive, Gainesville, Georgia 30504, United States
$87,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 24, 2022
About this deal
AI
A bridge loan of $87,800,000 was secured for a multifamily property. The property is located at 1360 Otilia Drive, 409 Martin Luther King Jr. Drive, 1210 Stewart St, 100 Rolling Ridge Drive, 8 Forest Circle, 1300 Mineral Springs Road, 1201 S 1st St, 1103 E Church St, 2506 Lumpkin Road, 826 Shugart Road, 120 McNeil Drive, 441 E McIntosh St & 908 Crestview Road. These properties are situated in the markets of Gainesville, Moultrie, Carrollton, Athens, Newnan, Elberton, Jesup, Fort Valley, Augusta, Dalton, Douglas, Milledgeville, GA & Easley, SC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $87,800,000
Berkadia represented the transaction as the broker.
Players
Gainesville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Georgia multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93