Updated Dec 4, 2024
Lee Fjord's Green Forest Capital Acquires 144-Unit Multifamily In East Point, GA For $13.9M
2420 Heaton Drive
$13,900,000
Units
144
Asset Type
MultiFamily
Closing
Dec 4, 2023
About this deal
AI
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.
On the Map
$13,900,000
MultiFamily
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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
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93