Tusk Equity Partner - Moshe Horn Secures $13.2M Loan For Millidgeville Multifamily Acquisition
196 GA Highway 49 W, Milledgeville, GA 31061
$13,187,000
$90/SF
Building Size
146,000 SF
Asset Type
MultiFamily
Closing
Jun 15, 2022
AI
The property involved in this transaction is a multifamily asset located in Millidgeville, GA. It has a total square footage of 146,000 and is situated at the address of 196 Highway 49 West & 1980 Briarcliff Rd.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,187,000
The lender for this transaction is Merchants Bank of Indiana. The landlord of the property is Tusk Equity Partner, represented by Moshe Horn. The brokers involved in the deal are Steven Vegh and Phil Goldstein from Westwood Realty Associates.
The loan obtained for this acquisition amounts to $13,187,000. It has a loan-to-value ratio (LTV) of 75% and the interest rate is 3.65% + SOFR. The loan term includes a 3-year interest-only period.
Players
Milledgeville 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93