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Max Sharkansky And Partners Of Trion Properties Acquire Multifamily Asset In Jonesboro For $34M

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SOLD
$34,000,000

Georgia

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MultiFamily213,898 SF
Sold 10/15/2024
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SOLD

Max Sharkansky And Partners Of Trion Properties Acquire Multifamily Asset In Jonesboro For $34M

2615 Mount Zion Parkway

See Similar Deals
MultiFamily213,898 SF
Sold 10/15/2024
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Summary

GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$159
Total Square Footage:213,898 SF
Transaction Type:Sale

The property sold is a multifamily asset located at 2615 Mount Zion Parkway in Jonesboro, GA. The sale price for this transaction was $34,000,000, comprising a total of 216 units. The building features a total square footage of 213,898, resulting in a price per unit of $157,407 and a price per square foot of $158.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,000,000
  • Units: 216
  • Square Footage: 213,898
  • Price Per Unit: $157,407
  • Price Per Square Foot: $158
  • Buyer: Max Sharkansky, Mitch Paskover, David Moghavem, Adrie Moses-Bailey, Felipe Montes de Oca & Andrew Lucas - Trion Properties
  • Seller: Intercapital Group
  • Broker: Brooks Colquitt - Cushman & Wakefield

This transaction involved multiple key individuals representing Trion Properties as buyers, specifically Max Sharkansky, Mitch Paskover, David Moghavem, Adrie Moses-Bailey, Felipe Montes de Oca, and Andrew Lucas. The seller of the property was Intercapital Group, with Brooks Colquitt acting as the representative broker from Cushman & Wakefield.

Players

Brooks Colquitt
4 deals$162.3M volume(770) 552-2400
BROKER

Details

SOLD
IMAGE: Felipe Montes de Oca, Adrie Bailey, Mitch Paskover, David Moghavem, Max Sharkansky & Andrew Lucas DATE: 10/15/2024 ADDRESS: 2615 Mount Zion Parkway MARKET: Jonesboro, GA ASSET TYPE: Multifamily BUYER: Max Sharkansky (@MaxShark), Mitch Paskover (@Mitch8181), David Moghavem (@DavidMoghavem), Adrie Moses-Bailey (@Adrie.Bailey), Felipe Montes de Oca (@Felipe0404) & Andrew Lucas - Trion Properties (@TrionProperties) SELLER: Intercapital Group BROKER: Brooks Colquitt - Cushman & Wakefield (@CushWake) SALE PRICE: $34,000,000 UNITS: 216 ~ PPU: $157,407 SF: 213,898 ~ PPSF: $158

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,813,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15