Updated Dec 4, 2024
The Geneva Group Secures $21.962M Acquisition Loan In Tucker, GA
3797 Lavista Road
$21,962,000
Units
240
Asset Type
MultiFamily
Closing
Feb 29, 2024
About this deal
AI
The multifamily property located at 3797 Lavista Road in Tucker, GA consists of 240 units. The asset was acquired with a $21,962,000 loan from PGIM for the purchase. The loan, facilitated for the acquisition, has a 7-year fixed rate term and features interest-only payments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,962,000
- Market: Tucker, GA
- Lender: PGIM
- Landlord: The Geneva Group
- Broker: Eric Trombly - Black Bear Capital Partners
- Loan Type: Acquisition
Jarred Elmar played a key role in the transaction, representing The Geneva Group as the landlord's representative in this deal.
Players
Tucker 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93