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3975 Covington Highway

Tusk Equity Partners Secures $30M Bridge Loan For Decatur Multifamily Acquisition
FINANCEDMultiFamily

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

Steven Vegh

Westwood Realty Associates

Broker

$2.5B

vol

68 deals

Broker
Moshie Horn

Moshie Horn

Tusk Equity Partners

Landlord

$150.1M

vol

7 deals

Landlord

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