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Viking Capital Acquires Stewart's Mill Apartments In Douglasville, GA For $28.2M

Property Image
SOLD
$28,200,000
Nathan Swenson
Brooks Colquitt
Wesley Kenney
+ 2

Georgia

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MultiFamily
Sold 12/20/2023
the dealplayerscompscontact
Property Image
SOLD

Viking Capital Acquires Stewart's Mill Apartments In Douglasville, GA For $28.2M

3421 Stewart Mill Road

See Similar Deals
MultiFamily
Sold 12/20/2023
Nathan Swenson
Brooks Colquitt
Wesley Kenney
+ 2
the dealplayerscompscontact
Contact now

Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

FCP® has sold Stewart’s Mill Apartments, a multifamily property located at 3421 Stewart Mill Road in Douglasville, GA, to Viking Capital for $28.2 million. The property consists of 188 units with an average price per unit of $150,000.

Summary of transaction details:

Note: FCP® has sold Stewart’s Mill Apartments in Douglasville, GA, to Viking Capital for $28.2 million.

Players

Brooks Colquitt
Newmark
Brooks Colquitt
4 deals$162.3M volume(770) 552-2400
BROKER
Nathan Swenson
Cushman & Wakefield
Nathan Swenson
2 deals$96.2M volume
BROKER
Wesley Kenney
Cushman & Wakefield
Wesley Kenney
1 deal$28.2M volume(404) 735-4386
BROKER
Robert Yates
Cushman & Wakefield
Robert Yates
1 deal$28.2M volume(404) 853-5381
BROKER
ME
FCP
Michael Errichetti
3 deals$127.2M volume
SELLER

Details

SOLD
IMAGE: Michael Errichetti, Brooks Colquitt, Nathan Swenson, Robert Yates & Wesley Kenney DATE: 12/20/2023 ADDRESS: 3421 Stewart Mill Road MARKET: Douglasville, GA ASSET TYPE: Multifamily BUYER: Viking Capital SELLER: Michael Errichetti - FCP BROKERS: Brooks Colquitt, Nathan Swenson, Robert Yates & Wesley Kenney - Cushman & Wakefield SALE PRICE: $28,200,000 UNITS: 188 ~ PPU: $150,000 NOTE: FCP® has sold Stewart’s Mill Apartments in Douglasville, GA, to Viking Capital for $28.2 million.

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

$1,504,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$100,188.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$133,682.39
Annual Debt Service$1,604,188.64