Crown Bay Group Acquires 294-Unit Multifamily Property In Union City, Georgia For $23.4M
FINANCED
$23,400,000
Georgia
See Similar DealsMultiFamily1,332,065 SF
Financed 11/10/2021
FINANCED
Crown Bay Group Acquires 294-Unit Multifamily Property In Union City, Georgia For $23.4M
6770 Buffington Rd, Union City, GA, USA
See Similar DealsMultiFamily1,332,065 SF
Financed 11/10/2021
Summary
GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$17
Total Square Footage:1,332,065 SF
Transaction Type:Loan
Located at 6770 Buffington Rd in Union City, Georgia, this multifamily property consists of 294 units. The transaction took place on 11/10/2021, with Ted Nasca representing the lender, lument''>Lument, and Steve Firestone representing the landlord, Crown Bay Group. The loan amount for this bridge loan was $23,400,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,400,000
- Units: 294
- Address: 6770 Buffington Rd, Union City, Georgia
- Market: Union City, Georgia
Ted Nasca, from Lument, served as the lender in this transaction, while Steve Firestone, representing Crown Bay Group, acted as the landlord. These key individuals played crucial roles in facilitating the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,400,000.00
Monthly NOI$156,000.00
Monthly Debt Service$147,903.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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