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ICER Properties Acquires Six Multifamily Properties In Atlanta, Jonesboro, Lithonia, Morrow & Conyers For $130M Loan

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FINANCED
$130,000,000
Judah Neuman
Cary Pollack
Joseph L. Jemal

Georgia

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MultiFamily1,200,000 SF
Financed 10/27/2021
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FINANCED

ICER Properties Acquires Six Multifamily Properties In Atlanta, Jonesboro, Lithonia, Morrow & Conyers For $130M Loan

Atlanta, GA, USA

See Similar Deals
MultiFamily1,200,000 SF
Financed 10/27/2021
Judah Neuman
Cary Pollack
Joseph L. Jemal
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$108
Total Square Footage:1,200,000 SF
Transaction Type:Loan

Six multifamily properties located in Atlanta, Jonesboro, Lithonia, Morrow, and Conyers have been involved in a recent loan transaction. The total square footage of the properties is 1,200,000, and they consist of 1,187 units. The loan, which took place on October 27, 2021, was an acquisition loan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $130,000,000
  • Address: Atlanta, Jonesboro, Lithonia, Morrow, and Conyers
  • Market: Atlanta, Jonesboro, Lithonia, Morrow, and Conyers
  • Landlord: ICER Properties - Joseph Jemal
  • Brokers: Cary Pollack & Judah Neuman - Meridian Capital Group

The loan features a LIBOR-based rate and has a term of 36 months.

Players

Cary Pollack
Meridian Capital Group
Cary Pollack
20 deals$1.1B volume(212) 612-0255
BROKER
Judah Neuman
Meridian Capital Group
Judah Neuman
14 deals$538.5M volume
BROKER
Joseph L. Jemal
ICER Properties
Joseph L. Jemal
36 deals$598.7M volume
LANDLORD

Details

FINANCED
IMAGE: Cary Pollack, Joseph Jemal & Judah Neuman DATE: 10/27/2021 ADDRESS: Six Multifamily Properties MARKET: Atlanta, Jonesboro, Lithonia, Morrow & Conyers ASSET TYPE: Multifamily ~ SF: 1,200,000 ~ UNITS: 1,187 LANDLORD: ICER Properties - Joseph Jemal BROKERS: Cary Pollack & Judah Neuman - Meridian Capital Group LOAN AMOUNT: $130,000,000 LOAN TYPE: Acquisition LOAN TERMS: 36-month loan features a LIBOR-based rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$130,000,000.00

Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00