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1992 Lovejoy Road Hampton, ...

Updated Oct 29, 2024

Inspired Real Estate Partners Acquires Lakeside Villas Apartment Homes In Hampton, GA With $26.7M Loan From Greystone
FINANCEDMultiFamily

Inspired Real Estate Partners Acquires Lakeside Villas Apartment Homes In Hampton, GA With $26.7M Loan From Greystone

1992 Lovejoy Road Hampton, Georgia 30228, USA

$26,700,000

Units

250

Asset Type

MultiFamily

Closing

Jul 24, 2023

About this deal

AI

Lakeside Villas Apartment Homes, a 250-unit multifamily property located at 1992 Lovejoy Road in Hampton, Georgia, has been acquired through a $26.7 million Fannie Mae loan provided by Greystone. The property spans across 23.09 acres and is a valuable addition to the real estate market in Hampton.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $26,700,000
  • Units: 250
  • Acres: 23.09
  • Lender: Greystone - Richard Kourbage
  • Landlord: Inspired Real Estate Partners
  • Loan Type: Acquisition
  • Loan Terms: Seven-year term at a fixed rate

Richard Kourbage, representing Greystone, played a crucial role in facilitating the acquisition of Lakeside Villas Apartment Homes. Inspired Real Estate Partners is the landlord overseeing the property. The loan provided by Greystone for the acquisition is a $26.7 million Fannie Mae loan, demonstrating the confidence in the property and its potential for returns.

Players

Greystone
GreystoneLender

Hampton MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $106.8K per unit across 250 units on a published $26.7M (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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