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Blackfin Real Estate Investors LLC Acquires Sage Creek Apartments From JJM Realty Partners LLC For $17.3M

Property Image
SOLD
$17,300,000
Miles Drinkwalter
Brian Gould
+ 5

Georgia

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MultiFamily
Sold 06/25/2025
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Property Image
SOLD

Blackfin Real Estate Investors LLC Acquires Sage Creek Apartments From JJM Realty Partners LLC For $17.3M

1315 Marks Church Road

See Similar Deals
MultiFamily
Sold 06/25/2025
Miles Drinkwalter
Brian Gould
+ 5
Contact now

Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property involved in this transaction is located at 1315 Marks Church Road, Augusta, GA, and consists of 120 units. The sale price for the property was $17,300,000, equating to approximately $144,167 per unit. The property was built in 2016, marking Blackfin Real Estate Investors' first acquisition in Georgia.

Summary of transaction details:

This acquisition involved key individuals and firms, with Berkadia serving as both the selling and financing agent for the transaction. Blackfin Real Estate Investors sought to expand their portfolio with this purchase, facilitated by the team from Berkadia, which played an essential role in the deal.

Players

Patrick McGlohn
15 deals$861.6M volume(301) 941-4610
BROKER

Miles Drinkwalter
Berkadia
10 deals$541.1M volume(301) 941-4614
BROKER

Brian Gould
Berkadia
11 deals$569.4M volume(917) 297-7551
BROKER

Natalie Hershey
Berkadia
9 deals$335.6M volume
BROKER


Mike Riley
Berkadia
1 deal$17.3M volume(470) 681-1389
BROKER

Ian Shaw
Berkadia
1 deal$17.3M volume(404) 654-2347
BROKER

Ted Hermes
Berkadia
1 deal$17.3M volume(240) 204-5137
BROKER

Berkadia
BROKERAGE

Details

SOLD
IMAGE: 06/25/2025 ADDRESS: 1315 Marks Church Road MARKET: Augusta, GA ASSET TYPE: Multifamily BUYER: Blackfin Real Estate Investors LLC SELLER: JJM Realty Partners LLC BROKERS: Ian Shaw & Mike Riley - Berkadia MORTGAGE BROKERS: Patrick McGlohn, Brian Gould, Miles Drinkwalter, Natalie Hershey & Ted Hermes - Berkadia SALE PRICE: $17,300,000 UNITS: 120 ~ PPU: $144,167 NOTE: Blackfin Real Estate Investors acquired Sage Creek Apartments in Augusta, GA, for $17.3 million from a group led by JJM Realty Partners. The 120-unit property, built in 2016, marks Blackfin’s first Georgia acquisition, with Berkadia arranging the sale and financing.

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

$922,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,463.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,010.83
Annual Debt Service$984,129.91