ICER Properties Acquires Six Multifamily Properties In Atlanta, Jonesboro, Lithonia, Morrow & Conyers For $130M Loan
Atlanta, GA, USA
$130,000,000
$108/SF
Building Size
1,200,000 SF
Asset Type
MultiFamily
Closing
Oct 27, 2021
AI
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
Atlanta 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93