Updated Oct 29, 2024
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
Hampton 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93