174 Unit Multifamily Apartment Complex - Atlanta GA

[Chris Jackson]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $10,800,000

Cash invested: $4,600,000

174 Unit C class Town home apartment complex. Bringing our total to the market to 230 units. We were able to secure agency debt. Our plan is to upgrade the units, put new roofs on and replace the main water service lines

What made you interested in investing in this type of deal?

We are private investment company focused on multifamily.

How did you find this deal and how did you negotiate it?

Was off market and with another group that could not raise all the equity. We were able to raise the needed capital quickly.

How did you finance this deal?

Fannie Mae agency debt. 12 yr fixed at 4.93 and 3 years of I/O

How did you add value to the deal?

We will add value be renovating over 100 units in 2 years, replacing the roofs, and replacing the main line water service pipes from galvanized to PVC.

What was the outcome?

We are 2 months in as of 3/6/19