ParkProperty Capital Acquires Multifamily Property In Atlanta For $91M
222 Colonial Homes Drive Northwest, Atlanta, Georgia 30309, United States
$91,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 21, 2022
AI
A multifamily property located at 222 Colonial Homes Dr NW in Atlanta, GA was recently sold in a closed transaction. The property consists of 217 units and was sold for a price of $91,000,000, resulting in a per unit price of $419,355. The transaction took place on July 22, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $91,000,000
- Address: 222 Colonial Homes Dr NW, Atlanta, GA
- Market: Atlanta, GA
- Buyer: ParkProperty Capital
- Seller: RangeWater & Artemis Real Estate Partners
- Brokers: Robert Stickel & Alex Brown - Cushman & Wakefield
- Units: 217
- Price per unit: $419,355
The buyer of the property was ParkProperty Capital, while the sellers were RangeWater & Artemis Real Estate Partners. The transaction was facilitated by brokers Robert Stickel and Alex Brown from Cushman & Wakefield.
Players
Atlanta 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93