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727 Anne St. - Griffin, GA 30224
PROPERTY Stats
PROPERTY OVERVIEW
Heritage Apartments is a 120-unit housing community located in Griffin, GA. The property is conveniently located minutes from major retailers including ALDI, Kroger, and Lowe’s. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property is a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract has an effective beginning date of October 1, 2023 and provides assistance for 113 units. Within the contract, Section 2(a) states that the contract runs for an effective term of 20 years.
Heritage Apartments offers two and three bedroom apartment homes featuring air conditioning. Community amenities include laundry facilities, a tot lot, and 24-hour emergency maintenance.
Multifamily property offering two and three bedroom apartments with a HAP Contract covering 113 units
Fantastic FMR growth for two- and three-bedroom apartments in Spalding County, with an overall increase of 50.78% since 2021
Incredibly well performing asset with a vacancy rate of 3% for available units over the Trailing-9 months
The Property is located approximately 1 hour south of Atlanta, offering residents a variety of entertainment and employment options
Preliminary NSPIRE Inspection Score: 93
INVESTMENT HIGHLIGHTS
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
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Adam Tomberg
Director
Affordable Housing
WA License #22019732
25.999.1152
adam.tomberg@berkadia.com
INVESTMENT ADVISORS
BRANDON GRISHAM
Senior Managing Director
Affordable Housing
WA License #26367
253.653.3313
brandon.grisham@berkadia.com
Senior Director
Multifamily
GA License #262140
404.654.2074
judy.macmanus@berkadia.com
JUDY MACMANUS
Three Alliance Center
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
ATLANTA OFFICE
MORTGAGE BANKING
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
120
UNITS
1970
Built
110,000
sF
