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Highline Real Estate Capital And M Street Holdings Acquire Retail Property In Conyers, GA For $16.95M

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SOLD
$16,950,000

Georgia

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Retail118,916 SF
Sold 09/13/2022
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Property Image
SOLD

Highline Real Estate Capital And M Street Holdings Acquire Retail Property In Conyers, GA For $16.95M

2203 Mcdonough Highway

See Similar Deals
Retail118,916 SF
Sold 09/13/2022
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Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$142
Total Square Footage:118,916 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail establishment located at 2203 GA-20 in Conyers, GA. The sale was finalized at a transaction amount of $16,950,000, encompassing a square footage of 118,916 and a price per square foot of $143.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $16,950,000
  • Square Footage: 118,916
  • Sale Price per Square Foot: $143
  • Buyer: Highline Real Estate Capital - David Moret, Andrew Remick, & Matt Papunen; M Street Holdings – David Milgram
  • Seller: ShopOne Centers REIT
  • Brokers: Chris DeCoufle, Kevin Hurley & Matt Karempeli - CBRE

This transaction involved key representatives from the buyer side, specifically David Moret, Andrew Remick, Matt Papunen of Highline Real Estate Capital, as well as David Milgram of M Street Holdings. The seller was represented by ShopOne Centers REIT, with brokerage services provided by Chris DeCoufle, Kevin Hurley, and Matt Karempeli from CBRE.

Players

Chris DeCoufle
4 deals$86.9M volume
BROKER

Kevin Hurley
CBRE
5 deals$95.9M volume
BROKER

Matt Karempelis
CBRE
5 deals$95.9M volume
BROKER

Details

SOLD
IMAGE: David Milgram, David Moret, Andrew Remick & Matt Papunen DATE: 09/13/2022 ADDRESS: 2203 GA-20 MARKET: Conyers, GA ASSET TYPE: Retail BUYER: Highline Real Estate Capital - David Moret, Andrew Remick (@aremi09), & Matt Papunen; M Street Holdings – David Milgram (@dmilgs) SELLER: ShopOne Centers REIT BROKERS: Chris DeCoufle, Kevin Hurley & Matt Karempeli - CBRE (@CBRE) SALE PRICE: $16,950,000 SF: 118,916 ~ PPSF: $143

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

$904,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,219.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,351.65
Annual Debt Service$964,219.77