Updated Oct 29, 2024
FCP Acquires $51M Multifamily Property In Marietta, GA With Buyer's Rep Michael Errichetti
2050 Austell Rd SW, Marietta, GA 30008, USA
$51,000,000
Units
360
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
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.
Players
Marietta MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Travis Presnell to view all their deals.
Browse Georgia multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93