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Think Multifamily Acquires The Reserve At Stockbridge For $15.66M

Property Image
SOLD
$15,660,000
Barden Brown
Taylor Brown
Chandler Brown

Georgia

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MultiFamily
Sold 08/31/2023
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Property Image
SOLD

Think Multifamily Acquires The Reserve At Stockbridge For $15.66M

115 Rock Quarry Road

See Similar Deals
MultiFamily
Sold 08/31/2023
Barden Brown
Taylor Brown
Chandler Brown
the dealplayerscompscontact
Contact now

Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

The Reserve at Stockbridge, a garden-style community with 88 units located in Stockbridge, Atlanta, has been sold in an off-market transaction for $15.66 million. The property is situated at 115 Rock Quarry Road in Stockbridge, GA.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,660,000
  • Units: 88
  • Price Per Unit: $177,955
  • Market: Stockbridge, GA

Mark Kenney, the founder of Think Multifamily, acted as the buyer in this transaction. The seller, Hallmark Properties, successfully closed the deal with the assistance of brokers Barden Brown, Chandler Brown, and Taylor Brown from Global Real Estate Advisors.

GREA facilitated the off-market sale of The Reserve at Stockbridge. The transaction marks a significant milestone for the multifamily property, which offers residents a garden-style living experience in Stockbridge, Atlanta.

Players

Chandler Brown
Global Real Estate Advisors (GREA)
Chandler Brown
5 deals$143.8M volume(678) 894-2225
BROKER
Taylor Brown
Global Real Estate Advisors (GREA)
Taylor Brown
8 deals$198.1M volume(678) 894-2219
BROKER
Barden Brown
Global Real Estate Advisors (GREA)
Barden Brown
4 deals$100.7M volume(678) 428-9871
BROKER

Details

SOLD
IMAGE: Taylor Brown, Chandler Brown, Barden Brown & Mark Kenney DATE: 08/31/2023 ADDRESS: 115 Rock Quarry Road MARKET: Stockbridge, GA ASSET TYPE: Multifamily BUYER: Mark Kenney - Think Multifamily SELLER: Hallmark Properties BROKERS: Barden Brown, Chandler Brown & Taylor Brown - Global Real Estate Advisors SALE PRICE: $15,660,000 UNITS: 88 ~ PPU: $177,955 NOTE: GREA has facilitated the $15.66 million off-market sale of The Reserve at Stockbridge, a garden-style community with 88 units located in Stockbridge, Atlanta.

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

$835,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,636.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,236.39
Annual Debt Service$890,836.67