The Allen Morris Co. Secures $64M Construction Loan For North Druid Hills Apartment
North Druid Hills, Georgia, United States
$64,000,000
$111/SF
Building Size
574,479 SF
Asset Type
MultiFamily
Closing
Jan 27, 2022
AI
The Allen Morris Co. has secured a construction loan of $64,000,000 for an apartment property located in North Druid Hills, Atlanta, GA. The property spans an impressive 574,479 square feet and consists of 337 units. The loan was provided by Truist and PNC.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $64,000,000
- Address: North Druid Hills
- Market: Atlanta, GA
- Square Footage: 574,479
- Units: 337
This financing deal was carried out by The Allen Morris Co., with their representatives being Allen Morris.
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93