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Lee Fjord's Green Forest Capital Acquires 144-Unit Multifamily In East Point, GA For $13.9M
SOLD
$13,900,000
Georgia
See Similar DealsMultiFamily
Sold 12/04/2023
SOLD
Lee Fjord's Green Forest Capital Acquires 144-Unit Multifamily In East Point, GA For $13.9M
2420 Heaton Drive
See Similar DealsMultiFamily
Sold 12/04/2023
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale
Pacific West Land has sold Phoenix Place Townhomes, a 144-unit multifamily property located at 2420 Heaton Drive in East Point, GA. The property, situated near Hartsfield-Jackson Atlanta International Airport, was acquired by Green Forest Capital for $13.9 million.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,900,000
- Address: 2420 Heaton Drive, East Point, GA
- Market: East Point, GA
- Buyer: Lee Fjord - Green Forest Capital
- Seller: Martin A. Stever - Pacific West Land
- Brokers: Barden Brown, Mack Leath & Taylor Brown - Global Real Estate Advisors (GREA)
Global Real Estate Advisors (GREA) played a pivotal role in facilitating this $13.9 million transaction. Phoenix Place Townhomes offers 144 units and is strategically positioned in East Point, providing convenient access to Hartsfield-Jackson Atlanta International Airport.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$741,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,383.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,893.09
Annual Debt Service$790,717.10
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