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REM Acquisitions Acquires 284-Unit Multifamily Property In Stockbridge, GA For $58.2M

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SOLD
$58,200,000

Georgia

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MultiFamily
Sold 08/17/2022
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Property Image
SOLD

REM Acquisitions Acquires 284-Unit Multifamily Property In Stockbridge, GA For $58.2M

3386 Mount Zion Road, Stockbridge, Georgia 30236, United States

See Similar Deals
MultiFamily
Sold 08/17/2022
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Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 3386 Mount Zion Rd in Stockbridge, GA was recently sold in a transaction. The property consists of 284 units and was sold for a total price of $58,200,000, resulting in a per unit price of $204,930. The sale of this property was facilitated by Chandler Brown, Taylor Brown, Cory Caroline Sams, and Walter Miller from GREA. The buyer of the property was REM Acquisitions, while the seller was Peak Capital Partners.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $58,200,000
  • Address: 3386 Mount Zion Rd, Stockbridge, GA
  • Market: Stockbridge, GA
  • Buyer: REM Acquisitions
  • Seller: Peak Capital Partners
  • Brokers: Chandler Brown, Taylor Brown, Cory Caroline Sams, and Walter Miller - GREA
  • Units: 284
  • Per Unit Price: $204,930

In this transaction, REM Acquisitions acted as the buyer, while Peak Capital Partners acted as the seller. The brokers who facilitated the deal were Chandler Brown, Taylor Brown, Cory Caroline Sams, and Walter Miller from GREA. They played a crucial role in ensuring a successful transaction for all parties involved.

Players

Cory Caroline Sams
5 deals$159.8M volume
BROKER

Walter Miller
Global Real Estate Advisors (GREA)
1 deal$58.2M volume
BROKER

Peak Capital Advisors
SELLER

Details

SOLD
IMAGE: Taylor Brown, Chandler Brown & Cory Caroline Sams DATE: 08/17/2022 ADDRESS: 3386 Mount Zion Rd MARKET: Stockbridge, GA ASSET TYPE: Multifamily BUYER: REM Acquisitions SELLER: Peak Capital Partners BROKERS: Chandler Brown, Taylor Brown, Cory Caroline Sams & Walter Miller - GREA SALE PRICE: $58,200,000 UNITS: 284 ~ PPU: $204,930

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

$3,103,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$206,772.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$275,897.69
Annual Debt Service$3,310,772.31