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750 Avondale Creek Drive

Benjamin Farkas Of CSL Partners And Viking Capital Acquire Multifamily Asset In Decatur For $58.5M
SOLDMultiFamily

Benjamin Farkas Of CSL Partners And Viking Capital Acquire Multifamily Asset In Decatur For $58.5M

750 Avondale Creek Drive

$58,500,000

$260/SF

Building Size

225,000 SF

Asset Type

MultiFamily

Closing

Dec 11, 2024

AI

The property asset involved in this transaction is a multifamily unit located at 750 Avondale Creek Drive in Decatur, GA. The asset encompasses a total of 240 units, with a sale price of $58,500,000. The overall square footage of the property is 225,000, resulting in a price per unit of $243,750 and a price per square foot of $260.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $58,500,000
  • Units: 240
  • Square Footage: 225,000
  • Price per Unit: $243,750
  • Price per Square Foot: $260
  • Buyer: Benjamin Farkas - CSL Partners; Ravi Gupta & Vikram Raya - Viking Capital

The key individuals involved in this deal include Benjamin Farkas representing CSL Partners, and Ravi Gupta and Vikram Raya representing Viking Capital. Their collective efforts facilitated the transaction, marking a notable acquisition in the multifamily market.

Players

Decatur MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93