Marketplace

Passco Cadence DST

Sugar Hill, GA

Property Description

The Project is a 294-unit mid/high rise multifamily apartment community known as Cadence Apartments (the “Project”) located on approximately 11.68 acres of land in Sugar Hill, Georgia. According to the Needs Assessment (as defined below), the Project was constructed in 2021 – 2022. The Project contains four 4-story residential buildings, 2 2-story residential buildings and a single-story clubhouse building. The Project includes 1-, 2- and 3-bedroom units. According to the Survey (as defined below), the Project has a total of 449 parking spaces, comprised of 410 regular surface spaces, 17 handicap spaces and 22 attached garage spaces. According to the Rent Roll (as defined below), the Project is leased at an occupancy rate of approximately 72.45% as of June 24, 2022. See “Description of the Project.”

Acquistion Details

Total Equity

$67,600,000

Total Debt

$41,980,000

Total Value

$109,580,000

Loan-to-value

38.31%

Units

294

Occupancy (as of 6/24/2022)

72.45%

Address

1270 Hillcrest Drive, Sugar Hill, GA 30518

Financial Details

Purchase Price

$97,612,500

Reserves

$4,378,345

Loan interest rate

4.84%

Loan term

10 years

Interest only period

7 years

Business Plan

The principal objectives of the Trust will be to (i) distribute to the Holders rent, after payment of debt service and expenses, at various levels of the purchase price paid by the Holders for the Interests during the first 10 years of ownership, (ii) amortize debt during a portion of the ownership of the Project and (iii) prepare the Project to be sold in approximately 10 years. There can be no assurance that any of these objectives will be achieved. See “Risk Factors.”

Visit Website for More Details

Read More

Schedule a Free Consultation

If you need help deciding which properties to choose or would like to discuss the best options for your situation, let our team help.

Schedule a Call

Disclosure

Investment Summary
Invest

This is a summary of the investments you’ve selected. Please provide the total amount you would like to invest below. A Stax representative will contact you once your application has been submitted.

Currently, you have no investments saved.
View Marketplace
Schedule a Consultation

Warning: foreach() argument must be of type array|object, null given in /home2/staxai/public_html/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 7
crossmenuchevron-downcross-circle