Moshe Horn's Tusk Equity Partners Secures $30M Bridge Loan For Decatur Multifamily Property
3975 Covington Highway, Decatur, Georgia 30032, United States
$30,020,000
$121/SF
Building Size
248,000 SF
Asset Type
MultiFamily
Closing
Aug 8, 2022
AI
Located in Decatur, GA, a closed property transaction involving 3975 Covington Hwy. and 3859 Austin Cir., both multifamily assets, took place. The total square footage of the property is 248,000, and it comprises a total of 254 units. The transaction was dated on 08/09/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $30,020,000
- Market: Decatur, GA
- Address: 3975 Covington Hwy. & 3859 Austin Cir.
- Square Footage: 248,000
- Units: 254
Moshe Horn, representing Tusk Equity Parnters, served as the landlord in this transaction. The loan for this deal was provided by Merchants Bank with a bridge loan amounting to $30,020,000. The brokers involved in the transaction were Steven Vegh and Phil Goldstein, who represented the sellers and buyers respectively. They are affiliated with Westwood Realty Associates.
Players
Decatur 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93