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Nighthawk Equity Acquires Multifamily Property In Marietta, GA For $42.6M

Property Image
SOLD
$42,595,000
Phil Goldstein
Steven Vegh

Georgia

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MultiFamily235,000 SF
Sold 03/15/2022
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Property Image
SOLD

Nighthawk Equity Acquires Multifamily Property In Marietta, GA For $42.6M

1035 Franklin Gateway Southeast, Marietta, Georgia 30067, United States

See Similar Deals
MultiFamily235,000 SF
Sold 03/15/2022
Phil Goldstein
Steven Vegh
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$181
Total Square Footage:235,000 SF
Transaction Type:Sale

The multifamily property located at 1035 Franklin Gateway in Marietta, GA was recently sold for a total price of $42,595,000. The transaction took place on 03/15/2022, and the property consists of 214 units with an average price per unit of $199,042. The total square footage of the property is 235,000, with an average price per square foot of $181. The sale was facilitated by brokers Steven Vegh and Phil Goldstein from Westwood Realty Associates.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $42,595,000
  • Units: 214
  • Price per Unit: $199,042
  • Square Footage: 235,000
  • Price per Square Foot: $181
  • Address: 1035 Franklin Gateway, Marietta, GA
  • Market: Marietta, GA

Nighthawk Equity served as the buyer for this transaction. The deal was successfully facilitated by brokers Steven Vegh and Phil Goldstein from Westwood Realty Associates.

Players

Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
Steven Vegh
Westwood Realty Associates
Steven Vegh
68 deals$2.5B volume(917) 715-8259
BROKER
Phil Goldstein
Phil Goldstein
22 deals$515.7M volume
BROKER

Details

SOLD
IMAGE: Steven Vegh & Phil Goldstein DATE: 03/15/2022 ADDRESS: 1035 Franklin Gateway MARKET: Marietta, GA ASSET TYPE: Multifamily BUYER: Nighthawk Equity BROKERS: Steven Vegh (@StevenVegh) & Phil Goldstein (@Phil_Goldstein_84) - Westwood Realty Associates SALE PRICE: $42,595,000 UNITS: 214 ~ PPU: $199,042 SF: 235,000 ~ PPSF: $181

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,271,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$151,331.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$201,922.03
Annual Debt Service$2,423,064.37