FCP Acquires $51M Multifamily Property In Marietta, GA With Buyer's Rep Michael Errichetti
SOLD
$51,000,000
Georgia
See Similar DealsMultiFamily
Sold 04/17/2023
SOLD
FCP Acquires $51M Multifamily Property In Marietta, GA With Buyer's Rep Michael Errichetti
2050 Austell Rd SW, Marietta, GA 30008, USA
See Similar DealsMultiFamily
Sold 04/17/2023
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2050 Austell Rd SW in Marietta, GA has been sold for $51,000,000. The transaction took place on 04/17/2023, with FCP represented by Michael Errichetti as the buyer. The property consists of 360 units, resulting in a price per unit (PPU) of $141,667.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $51,000,000
- Date: 04/17/2023
- Address: 2050 Austell Rd SW, Marietta, GA
- Market: Marietta, GA
- Buyer: FCP - Michael Errichetti
- Brokers: Travis Presnell & James Wilber - Cushman & Wakefield
- Units: 360
- Price Per Unit (PPU): $141,667
The sale of this multifamily property was brokered by Travis Presnell and James Wilber from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,719,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$181,192.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$241,766.02
Annual Debt Service$2,901,192.23
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