Updated Dec 4, 2024
Mark Parrell's Equity Residential Acquires 634-unit Multifamily Portfolio In Decatur & Suwanee, GA For $179.7M
1605 Church Street & 2950 Richmond Row Drive
$179,700,000
Units
634
Asset Type
MultiFamily
Closing
Dec 22, 2023
About this deal
AI
Equity Residential (EQR) has acquired two apartment properties, Richmond Row Apartments in Suwanee and The Baxter in Decatur, Georgia, totaling 634 units. The properties are located at 1605 Church Street and 2950 Richmond Row Drive. The sale price for this transaction was $179,700,000, with a price per unit of $283,438.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $179,700,000
- Units: 634
- Price Per Unit: $283,438
Mark Parrell of Equity Residential represented the buyer in this deal.
The multifamily sale at 1605 Church Street in Decatur, Georgia sold for $179.7M in 2023. Reported inventory is 634 units across 634 units. Named participants on the 1605 Church Street sale are Mark J. Parrell. This page is the Decatur, Georgia file for the 1605 Church Street multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Decatur sit in the Market section below. Filter that Decatur multifamily set by closing date to see what else sold near 1605 Church Street around 2023. Published consideration for 1605 Church Street is $179.7M, dated 2023. Cite this Mark Parrell's Equity Residential Acquires 634-unit Multifamily Portfolio In Decatur & Suwanee, GA For $179.7M sale when underwriting similar multifamily product around Decatur, Georgia.
Decatur MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $283.4K per unit across 634 units on a published $179.7M (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93