Highline Real Estate Capital And M Street Holdings Acquire Retail Property In Atlanta For $16.75M
2918 Turner Hill Road, Lithonia, Georgia 30038, United States
$16,750,000
$135/SF
Building Size
124,000 SF
Asset Type
Retail
Closing
Jan 20, 2022
About this deal
AI
Highline Real Estate Capital, in collaboration with M Street Holdings, has acquired a retail property located at 2918 Turner Hill Road in Turner Hill Market Place, Atlanta. The property, spanning 124,000 square feet, was purchased from RCG Ventures for a total sale price of $16,750,000. This translates to a price per square foot of $135.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,750,000
- Address: 2918 Turner Hill Road - Turner Hill Market Place, Atlanta
- Market: Atlanta
- Buyer: Highline Real Estate Capital - David Moret, Matt Papunen & Andrew Remick; M Street Holdings - David Milgram
- Seller: RCG Ventures
- Broker: Ryan McArdle - Palomar Real Estate Group
- Square Footage: 124,000
- Price per Square Foot: $135
The transaction was facilitated by Ryan McArdle from Palomar Real Estate Group, representing the buyer and seller. David Moret, Matt Papunen, Andrew Remick, and David Milgram played key roles as representatives of Highline Real Estate Capital and M Street Holdings, respectively. This acquisition marks a significant investment for Highline Real Estate Capital and M Street Holdings in the Atlanta retail market.
Players
Lithonia Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93