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130 Hickory Street

Landmark Properties Secures $140M Loan From Helaba Bank For The Mark Athens Student Housing
FINANCEDStudent Housing

Landmark Properties Secures $140M Loan From Helaba Bank For The Mark Athens Student Housing

130 Hickory Street

$140,000,000

Building Size

Asset Type

Student Housing

Closing

Jan 8, 2024

AI

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.

Players

Helaba
HelabaLender

Wes Rogers

Landmark Properties

Landlord

$1.2B

vol

4 deals

Landlord

Athens Student Housing Market Snapshot

Boundary boundary · Student Housing · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93