Updated Oct 28, 2024
Bellwether Enterprise Provides $23.9M Sub-Rehab Loan For Atlanta Multifamily Property
3156 Howell Mill Road Northwest, Atlanta, Georgia 30327, United States
$23,906,600
Units
200
Asset Type
MultiFamily
Closing
Sep 6, 2022
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 3156 & 3160 Howell Mill Road in Atlanta, GA. The property consists of 200 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,906,600
- Market: Atlanta, GA
The lender in this transaction is Bellwether Enterprise Real Estate Capital LLC, represented by Jeff Mion. The loan amount for the transaction is $23,906,600. It is a sub-rehab loan with an interest rate of 3.99%. The landlord of the property is The Jewish Home Tower, Inc.
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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93