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101 Ascend Loop Myrtle Beac...

Affiliates Of Harbor Group International, LLC Acquire Artisan Carolina Forest Multifamily Property For $64.4M
SOLDMultiFamily

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

John Currin

NorthMarq

Broker

$677.6M

vol

10 deals

Broker
Yisroel Berg

Yisroel Berg

Harbor Group International

Buyer

$732.9M

vol

5 deals

Buyer

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