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Shamah Properties Acquires Multifamily Property In Clarkston, GA For $68M

Property Image
SOLD
$68,000,000
Nathan Swenson
CZ
AS

Georgia

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MultiFamily483,400 SF
Sold 08/10/2022
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Property Image
SOLD

Shamah Properties Acquires Multifamily Property In Clarkston, GA For $68M

1500 Post Oak Dr, Clarkston, Georgia 30021, United States

See Similar Deals
MultiFamily483,400 SF
Sold 08/10/2022
Nathan Swenson
CZ
AS
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$140
Total Square Footage:483,400 SF
Transaction Type:Sale

The sale of a multifamily property located at 1500 Post Oak Dr. in Clarkston, GA has been completed. The property consists of 368 units, with a total square footage of 483,400. The sale price for this transaction amounted to $68,000,000, resulting in a price per unit of $184,782 and a price per square foot of $140.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $68,000,000
  • Units: 368
  • Price per Unit: $184,782
  • Square Footage: 483,400
  • Price per Square Foot: $140
  • Market: Clarkston, GA

The buyer of the property was Shamah Properties, represented by Eddie Setton, Carl Zekaria, and Alan Shamah. The seller involved in this transaction was The Walden Group. The brokerage services were provided by Nathan Swenson from Cushman & Wakefield.

Players

Nathan Swenson
Cushman & Wakefield
Nathan Swenson
2 deals$96.2M volume
BROKER
SP
Shamah Properties
BUYER
CZ
Carl Zekaria
2 deals$68M volume
BUYER
AS
Alan Shamah
3 deals$68M volume
BUYER
TG
The Walden Group
SELLER

Details

SOLD
IMAGE: Eddie Setton, Carl Zekaria, Alan Shamah & Nathan Swenson DATE: 08/10/2022 ADDRESS: 1500 Post Oak Dr. MARKET: Clarkston, GA ASSET TYPE: Multifamily BUYER: Shamah Properties (@ShamahProperties) - Eddie Setton (@EdSetton), Carl Zekaria & Alan Shamah SELLER: The Walden Group BROKER: Nathan Swenson - Cushman & Wakefield (@CushWake) SALE PRICE: $68,000,000 UNITS: 368 ~ PPU: $184,782 SF: 483,400 ~ PPSF: $140

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$241,589.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$322,354.69
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