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
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