The Allen Morris Co. Secures $64M Construction Loan For North Druid Hills Apartment
FINANCED
$64,000,000
Georgia
See Similar DealsMultiFamily574,479 SF
Financed 01/28/2022
FINANCED
The Allen Morris Co. Secures $64M Construction Loan For North Druid Hills Apartment
North Druid Hills, Georgia, United States
See Similar DealsMultiFamily574,479 SF
Financed 01/28/2022
Summary
GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$111
Total Square Footage:574,479 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,000,000.00
Monthly NOI$426,666.67
Monthly Debt Service$404,523.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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