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Tusk Equity Partner - Moshe Horn Secures $13.2M Loan For Millidgeville Multifamily Acquisition

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FINANCED
$13,187,000
Phil Goldstein
Steven Vegh
Moshie Horn

Georgia

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MultiFamily146,000 SF
Financed 06/16/2022
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FINANCED

Tusk Equity Partner - Moshe Horn Secures $13.2M Loan For Millidgeville Multifamily Acquisition

196 GA Highway 49 W, Milledgeville, GA 31061

See Similar Deals
MultiFamily146,000 SF
Financed 06/16/2022
Phil Goldstein
Steven Vegh
Moshie Horn
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$90
Total Square Footage:146,000 SF
Transaction Type:Loan

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

Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
Phil Goldstein
Phil Goldstein
22 deals$515.7M volume
BROKER
Moshie Horn
Moshie Horn
7 deals$150.1M volume(516) 430-5991
BROKER
Merchants Bank of Indiana
Merchants Bank of Indiana
LENDER
Moshie Horn
Moshie Horn
7 deals$150.1M volume
LANDLORD
Moshie Horn
Moshie Horn
7 deals$150.1M volume
LANDLORD

Details

FINANCED
IMAGE: Steven Vegh, Moshe Horn & Phil Goldstein DATE: 06/16/2022 ADDRESS: 196 Highway 49 West & 1980 Briarcliff Rd. MARKET: MIllidgeville, GA ASSET TYPE: Multifamily ~ SF: 146,000 LENDER: Merchants Bank of Indiana LANDLORD: Tusk Equity Partner - Moshe Horn BROKERS: Steven Vegh (@StevenVegh) & Phil Goldstein (@Phil_Goldstein_84) - Westwood Realty Associates LOAN AMOUNT: $13,187,000 LOAN TYPE: Acquisition LOAN TERMS: 75% LTV, 3.65% + SOFR, 3Y IO

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,187,000.00

Monthly NOI$87,913.33
Monthly Debt Service$83,350.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00