Updated Oct 28, 2024
Crown Bay Group Acquires 294-Unit Multifamily Property In Union City, Georgia For $23.4M
6770 Buffington Rd, Union City, GA, USA
$23,400,000
$17/SF
Building Size
1,332,065 SF
Asset Type
MultiFamily
Closing
Nov 10, 2021
About this deal
AI
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
Union City 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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93