Icer Properties Acquires Multifamily Portfolio In GA For $105M With Meridian Capital Group As Brokers
2909 Campbellton Road Southwest
$105,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 24, 2022
AI
The multifamily property located at 2909 Campbellton Rd. SW, 330 Arrowhead Blvd., and 6655 Mt Zion Blvd. in Georgia recently underwent a closed transaction. The property consists of 902 units and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $105,000,000
- Address: 2909 Campbellton Rd. SW, 330 Arrowhead Blvd., and 6655 Mt Zion Blvd.
- Market: Georgia
- Units: 902
Icer Properties, represented by Joseph Jemal, acted as the landlord in this transaction. The brokers involved in the deal were Cary Pollack and Judah Neuman from Meridian Capital Group. The loan amount for this acquisition was $105,000,000.
Players
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93