Investcorp Acquires Multifamily Portfolio In Sandy Springs, Norcross, Phoenix, And North Richland Hills For $420M
SOLD
$420,000,000
Georgia
See Similar DealsMultiFamily
Sold 07/13/2020
SOLD
Investcorp Acquires Multifamily Portfolio In Sandy Springs, Norcross, Phoenix, And North Richland Hills For $420M
501 Northridge Rd, Sandy Springs, GA, USA
See Similar DealsMultiFamily
Sold 07/13/2020
Summary
GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily properties located at 501 Northridge Rd, 100 Chase Common Dr, 17425 N 19th Ave, 15202 N 40th St, and 8359 N Harwood Rd have been sold in a closed transaction. These properties are situated in Sandy Springs, GA, Norcross, GA, Phoenix, AZ, and North Richland Hills, TX respectively.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $420,000,000
- Units: 2,228
- Price Per Unit: $188,509
The buyer of these properties is Investcorp represented by Michael O’Brien.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$22,399,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,492,171.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,991,014.27
Annual Debt Service$23,892,171.29
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