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Vikram Aneja's Emma Capital Acquires Lancaster Ridge Apartments In Canton, GA For $26.1M

Property Image
SOLD
$26,100,000
Eric Liebich
Ron Corrao
Jake Reid
+ 1

Georgia

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MultiFamily
Sold 10/18/2023
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Property Image
SOLD

Vikram Aneja's Emma Capital Acquires Lancaster Ridge Apartments In Canton, GA For $26.1M

800 Hickory Knoll Drive

See Similar Deals
MultiFamily
Sold 10/18/2023
Eric Liebich
Ron Corrao
Jake Reid
+ 1
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:MultiFamily
Transaction Type:Sale

Lancaster Ridge Apartments, a 145-unit apartment community located at 800 Hickory Knoll Drive in Canton, GA, has been sold for $26.1 million. The multifamily asset was acquired by Vikram Aneja, representing Emma Capital, in a transaction facilitated by Chad DeFoor, Eric Liebich, Jake Reid, and Ron Corrao of Capstone Companies.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $26,100,000
  • Units: 145
  • Price Per Unit: $180,000
  • Market: Canton, GA

Capstone Companies recently announced the sale of Lancaster Ridge Apartments, underscoring the successful transfer of ownership for this apartment community in the Canton submarket of greater Atlanta, Georgia.

Players

Ron Corrao
NorthMarq
Ron Corrao
13 deals$274.9M volume(757) 749-6994
BROKER
Eric Liebich
NorthMarq
Eric Liebich
11 deals$257.3M volume(704) 935-7019
BROKER
Jake Reid
Capstone Companies
Jake Reid
1 deal$26.1M volume
BROKER
Chad DeFoor
Capstone Companies
Chad DeFoor
1 deal$26.1M volume
BROKER

Details

SOLD
IMAGE: Vikram Aneja, Chad DeFoor, Eric Liebich, Jake Reid & Ron Corrao DATE: 10/18/2023 ADDRESS: 800 Hickory Knoll Drive MARKET: Canton, GA ASSET TYPE: Multifamily BUYER: Vikram Aneja - Emma Capital BROKERS: Chad DeFoor, Eric Liebich, Jake Reid & Ron Corrao - Capstone Companies SALE PRICE: $26,100,000 UNITS: 145 ~ PPU: $180,000 NOTE: Capstone Companies has announced the $26.1 million sale of Lancaster Ridge Apartments, a 145-unit apartment community in the Canton submarket of greater Atlanta, Georgia.

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

$1,392,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$92,727.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,727.32
Annual Debt Service$1,484,727.79