Affiliates Of Harbor Group International, LLC Acquire Artisan Carolina Forest Multifamily Property For $64.4M
101 Ascend Loop Myrtle Beach, SC 29579, USA
$64,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 28, 2023
AI
Artisan Carolina Forest, a 276-unit multifamily community located at 101 Ascend Loop in Myrtle Beach, S.C., has been sold for $64.4 million. The property was purchased by affiliates of Harbor Group International, LLC, in a transaction facilitated by Yisroel Berg, representing Harbor Group International, LLC, and broker John Currin of NorthMarq.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,400,000
- Number of Units: 276
- Price per Unit: $233,333
Affiliates of Harbor Group International, LLC have acquired Artisan Carolina Forest, adding to their portfolio of properties. The multifamily community, located in Myrtle Beach, S.C., offers 276 units that have garnered significant attention due to their location and amenities. Yisroel Berg of Harbor Group International, LLC served as the buyer's representative in the transaction, while John Currin, a broker from NorthMarq, represented the seller.
Players
Myrtle Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93