Updated Oct 28, 2024
Meridian Capital Group Secures $73M Construction Loan For Multifamily Property In Kennesaw, GA
3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States
$73,000,000
Units
579
Asset Type
MultiFamily
Closing
Dec 15, 2021
About this deal
AI
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.
The multifamily loan at 3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States in Kennesaw, Georgia financed for $73M in 2021. Reported inventory is 579 units across 579 units. Joel Chetner, Jonathan Zilber, Hannah Howard, Meridian Capital Group appear on the loan alongside Meridian Capital Group, Hannah Howard Advisory. This page is the Kennesaw, Georgia file for the 3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Kennesaw sit in the Market section below. Filter that Kennesaw multifamily set by closing date to see what else financed near 3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States around 2021. Published consideration for 3550 Cherokee Street Northwest, Kennesaw, Georgia 30144, United States is $73M, dated 2021. Cite this Meridian Capital Group Secures $73M Construction Loan For Multifamily Property In Kennesaw, GA loan when underwriting similar multifamily product around Kennesaw, Georgia.
Players
Kennesaw MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Joel Chetner to view all their deals.
Browse Georgia multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93