Forum Investment Group Acquires Multifamily Property In Kennesaw, GA For $64.75M
SOLD
$64,750,000
+ 2
Georgia
See Similar DealsMultiFamily1,214 SF
Sold 05/17/2020
SOLD
Forum Investment Group Acquires Multifamily Property In Kennesaw, GA For $64.75M
2025 Barrett Lakes Boulevard Northwest, Kennesaw, GA 30144
See Similar DealsMultiFamily1,214 SF
Sold 05/17/2020
+ 2
Summary
GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$53,336
Total Square Footage:1,214 SF
Transaction Type:Sale
An multifamily property located at 2025 Barrett Lakes Boulevard in Kennesaw, GA has recently been sold for a total price of $64,750,000. The property consists of 238 units, with an average price per unit of $272,059.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $64,750,000
- Address: 2025 Barrett Lakes Boulevard, Kennesaw, GA
- Market: Kennesaw, GA
The buyer of the property is Forum Investment Group, represented by Marc Swerdlow and Darren Fisk. The seller is Passco Companies, represented by William O. Passo, Larry Sullivan, and Thomas Jahncke. The transaction was facilitated by brokers Mike Kemether, Robert Stickel, and Alex Brown from Cushman & Wakefield.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,043.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$306,948.03
Annual Debt Service$3,683,376.41
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