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
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