Updated Oct 28, 2024
Lument Provides $17.5M Bridge Loan For Atlanta Multifamily Property
1655 Peachtree St NE, Atlanta, GA, USA
$17,500,000
$637/SF
Building Size
27,443 SF
Asset Type
MultiFamily
Closing
Dec 10, 2021
About this deal
AI
The multifamily property located at 1655 Peachtree St NE in Atlanta, Georgia was recently involved in a closed transaction. The property consists of 68 units and is situated in the Atlanta market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,500,000
- Loan Type: Bridge Loan
- Loan Terms: Two-year term with two six-month extension options, along with a floating interest rate
- Lender: lument''>Lument - R.J. Guttroff
The loan for the transaction was provided by Lument, with R.J. Guttroff representing the lender. The loan amount for the deal was $17,500,000 and it was structured as a bridge loan. The loan has a two-year term with two six-month extension options and carries a floating interest rate.
Atlanta 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93