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Landmark Properties Secures $140M Loan From Helaba Bank For The Mark Athens Student Housing
FINANCED
$140,000,000
Georgia
See Similar DealsStudent Housing
Financed 01/08/2024
FINANCED
Landmark Properties Secures $140M Loan From Helaba Bank For The Mark Athens Student Housing
130 Hickory Street
See Similar DealsStudent Housing
Financed 01/08/2024
Summary
GEORGIA
Asset Type:Student Housing
Transaction Type:Loan
The Mark Athens, a 1,364-bed student housing community located at 130 Hickory Street in Athens, GA, has been recapitalized through a $140 million, 5-year loan from Helaba Bank. The property serves the University of Georgia, and Wes Rogers of Landmark Properties is the landlord.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $140,000,000
- Address: 130 Hickory Street, Athens, GA
- Market: Athens, GA
- Bed: 1,364
Helaba Bank provided the loan for the recapitalization of The Mark Athens, a student housing community serving the University of Georgia. Landmark Properties, represented by Wes Rogers, facilitated the transaction as the landlord.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$140,000,000.00
Monthly NOI$933,333.33
Monthly Debt Service$884,895.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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