Morgan Properties Acquires Multifamily Portfolio In Augusta, Jacksonville, Fayetteville, Charlotte, Columbia, And Greenville For $780.5M
Augusta, GA, USA
$780,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 5, 2021
AI
The multifamily property located in Augusta GA, Jacksonville FL, Fayetteville & Charlotte NC & Columbia & Greenville SC was recently sold in a closed transaction. The property consists of 4,724 units with an average price per unit of $165,220, resulting in a total sale price of $780,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $780,500,000
- Market: Augusta GA, Jacksonville FL, Fayetteville & Charlotte NC & Columbia & Greenville SC
Mitchell Morgan, Jonathan Morgan, and Jason Morgan of Morgan Properties were the buyers in this transaction.
Players
Augusta MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93