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1980 Briarcliff Road, Mille...

Tusk Equity Partners Acquires Multifamily Property In Millidgeville, GA For $15M
SOLDMultiFamily

Tusk Equity Partners Acquires Multifamily Property In Millidgeville, GA For $15M

1980 Briarcliff Road, Milledgeville, Georgia 31061, United States

$15,000,000

$102/SF

Building Size

146,000 SF

Asset Type

MultiFamily

Closing

Jun 15, 2022

AI

A multifamily property located at 1980 Briarcliff Rd. & 196 Highway 49 West in Millidgeville, GA has been sold for $15,000,000. The property consists of 178 units with an average price per unit of $84,269. The total square footage of the property is 146,000, resulting in a price per square foot of $102.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Units: 178
  • Price Per Unit: $84,269
  • Square Footage: 146,000
  • Price Per Square Foot: $102
  • Address: 1980 Briarcliff Rd. & 196 Highway 49 West, Millidgeville, GA

The buyer of the property is Tusk Equity Partners represented by Moshe Horn, while the seller is Max Kurowitz. The transaction was facilitated by brokers Steven Vegh and Phil Goldstein from Westwood Realty Associates.

Players

Steven Vegh

Westwood Realty Associates

Broker

$2.5B

vol

68 deals

Broker
Moshie Horn

Moshie Horn

Tusk Equity Partners

Buyer

$150.1M

vol

7 deals

Buyer

Milledgeville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93