FINANCEDOffice
CIM Group Provides $72M Recapitalization Loan For Office Property In Covington, Georgia
11642 Georgia 142, Covington, GA, USA
$72,000,000
Building Size
—
Asset Type
Office
Closing
Dec 2, 2021
About this deal
AI
The property involved in this transaction is an office located at 11642 GA Hwy 142 in Covington, Georgia. It spans across 160 acres and is owned by Woodvale & Timber Hill.
Summary of transation details
- Property Type: Office
- Transaction Amount: $72,000,000
- Address: 11642 GA Hwy 142, Covington, Georgia
- Market: Covington, Georgia
- Lender: CIM Group - Shaul Kuba
- Loan Type: Recapitalization Loan
The lender involved in this transaction is CIM Group, specifically represented by Shaul Kuba. The loan amount for this recapitalization loan is $72,000,000.
Players
CIM GroupLender
Covington Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93