Tusk Equity Partners Secures $30M Bridge Loan For Decatur Multifamily Acquisition
3975 Covington Highway & 3859 Austin Circle
$30,020,000
$60/SF
Building Size
496,000 SF
Asset Type
MultiFamily
Closing
Aug 9, 2022
AI
The multifamily property located at 3975 Covington Hwy. & 3859 Austin Cir. in Decatur, GA has been involved in a loan transaction. This property spans 248,000 square feet and consists of 254 units. The landlord of the property is Moshe Horn of Tusk Equity Parnters.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $30,020,000
- Loan Type: Bridge
- Lender: Merchants Bank
The loan amount for this transaction is $30,020,000. The lender for this deal is Merchants Bank. Moshe Horn, representing Tusk Equity Partners, serves as the landlord of the property. The brokers involved in this transaction are Steven Vegh and Phil Goldstein from 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