Frankforter Group Acquires Multifamily Property In Atlanta For $126.9M
SOLD
$126,900,000
Georgia
See Similar DealsMultiFamily67,431 SF
Sold 12/23/2021
SOLD
Frankforter Group Acquires Multifamily Property In Atlanta For $126.9M
369 Centennial Olympic Park Drive Northwest, Atlanta, Georgia 30313, United States & 369 Centennial Olympic Park Drive Northwest
See Similar DealsMultiFamily67,431 SF
Sold 12/23/2021
Summary
GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$1,881
Total Square Footage:67,431 SF
Transaction Type:Sale
The multifamily property located at 369 Centennial Olympic Park Drive in Atlanta has been sold for a price of $126,900,000. The sale was finalized on December 23, 2021. The property spans across 1.8 acres and consists of 336 units. The purchase price per unit was $377,679. The buyer in this transaction was the Frankforter Group, while the seller was Kaplan Residential.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $126,900,000
- Address: 369 Centennial Olympic Park Drive, Atlanta
- Market: Atlanta
- Acres: 1.8
- Units: 336
- Price per Unit: $377,679
The Frankforter Group acted as the buyer, while Kaplan Residential represented the seller in this property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,768,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$450,848.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$601,570.74
Annual Debt Service$7,218,848.90
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