Edward Streit Of Hardwell Capital Arranges $23.454M Bridge Loan In Atlanta
2948 Delmar Lane Northwest & 3060 Delmar Lane Northwest
$23,454,000
$46/SF
Building Size
251,526 SF
Asset Type
MultiFamily
Closing
Jun 14, 2024
AI
The multifamily property located at 2948-3060 Delmar Lane Northwest in Atlanta, GA, spans 251,526 square feet and consists of 314 units. The recent transaction involved a bridge loan of $23,454,000 facilitated by Edward Streit from Hardwell Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $23,454,000
- Address: 2948-3060 Delmar Lane Northwest
- Market: Atlanta, GA
- Units: 314
- Square Footage: 251,526
- Broker: Edward Streit - Hardwell Capital
- Loan Type: Bridge Loan
The involvement of Edward Streit from Hardwell Capital as the broker overseeing the bridge loan transaction exemplifies the expertise and meticulous approach taken in successfully managing the deal.
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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93