Updated Mar 4, 2026
Concordia Properties Acquires Multifamily Property In High Point, NC
2609 Suffolk Avenue, High Point, North Carolina 27265, United States
$28,471,600
$91/SF
Building Size
312,994 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
About this deal
AI
Concordia Properties has recently acquired a multifamily property located at 2609 Suffolk Ave in High Point, NC. The property spans approximately 312,994 square feet and consists of 226 units. The acquisition was facilitated by Steven Vegh from Westwood Realty Associates, who represented Concordia Properties in the deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,471,600
- Loan Type: Acquisition
- Loan Terms: 3-year full term interest-only with 85% loan-to-value ratio
The loan obtained for this acquisition amounted to $28,471,600 with a loan type of acquisition. The loan terms include a 3-year full term interest-only period and an 85% loan-to-value ratio.
Steven Vegh, from Westwood Realty Associates, played a crucial role in representing Concordia Properties in this transaction. Their expertise and negotiation skills contributed to the successful acquisition of the multifamily property at 2609 Suffolk Ave. in High Point, NC.
Players
High Point MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93