ParkProperty Capital Acquires Multifamily Property In Atlanta For $91M
SOLD
$91,000,000
Georgia
See Similar DealsMultiFamily
Sold 07/22/2022
SOLD
ParkProperty Capital Acquires Multifamily Property In Atlanta For $91M
222 Colonial Homes Drive Northwest, Atlanta, Georgia 30309, United States
See Similar DealsMultiFamily
Sold 07/22/2022
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,853,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$323,303.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$431,386.43
Annual Debt Service$5,176,637.11
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