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Meridian Capital Group Secures $73M Construction Loan For Multifamily Property In Kennesaw, GA

Property Image
FINANCED
$73,000,000
Joel Chetner
Jonathan Zilber
Hannah Howard

Georgia

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MultiFamily
Financed 12/15/2021
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Property Image
FINANCED

Meridian Capital Group Secures $73M Construction Loan For Multifamily Property In Kennesaw, GA

3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States

See Similar Deals
MultiFamily
Financed 12/15/2021
Joel Chetner
Jonathan Zilber
Hannah Howard
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Loan

Located at 3550 Cherokee St. in Kennesaw, GA, this multifamily property consists of 579 units. The transaction closed on December 15, 2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $73,000,000
  • Market: Kennesaw, GA

The loan for this property was provided by The LifeCo. The non-recourse, five-year, floating rate construction loan features full-term interest-only payments. The loan was arranged by Hannah Howard, Joel Chetner, and Jonathan Zilber from Meridian Capital Group.

Players

Hannah Howard
Hannah Howard
16 deals$490M volume
BROKER
Jonathan Zilber
Walker & Dunlop
Jonathan Zilber
22 deals$1.1B volume(440) 298-2058
BROKER
Joel Chetner
Walker & Dunlop
Joel Chetner
7 deals$462.9M volume
BROKER
The LifeCo
The LifeCo
LENDER

Details

FINANCED
IMAGE: Joel Chetner, Hannah Howard & Jonathan Zilber DATE: 12/15/2021 ADDRESS: 3550 Cherokee St. MARKET: Kennesaw, GA ASSET TYPE: Multifamily ~ UNITS: 579 LENDER: The LifeCo BROKERS: Hannah Howard (@Broker_hannah_howard), Joel Chetner, Jonathan Zilber - Meridian Capital Group (@meridiancapitalgroup) LOAN AMOUNT: $73,000,000 LOAN TYPE: Construction Loan LOAN TERMS: The non-recourse, five-year, floating rate was provided by a life insurance company and features full-term interest-only payments

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$73,000,000.00

Monthly NOI$486,666.67
Monthly Debt Service$461,409.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00