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RICHARD LEVINE
Senior Managing Director
404.654.2590
Richard.Levine@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
John.Bray@berkadia.com
JOSH FINLEY
Managing Director
404.654.2594
Josh.Finley@berkadia.com
MORTGAGE BANKING
JUDY MACMANUS
Managing Director
404.654.2074
Judy.MacManus@berkadia.com
ANDREW MAYS
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
PAUL VETTER
Senior Managing Director
404.445.1068
Paul.Vetter@berkadia.com
INVESTMENT SALES
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
713.974.T: 404.445.2600 | F: 404.445.1065
ATLANTA OFFICE
THREE ALLIANCE CENTER
CONTACT US
5650 HILLANDALE DRIVE| LITHONIA | GA | 30058
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.
© 2023 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 www.berkadia.com/licensing.
THE LOCATION
PHOTO GALLERY
unit amenities
Fully Equipped Kitchen
Black Appliances*
Wood-Look Floors
Granite Countertops*
White Cabinetry
Pantry
Fireplace*
Multi-Speed Ceiling Fans
Linen Closet
Washer and Dryer Connections*
*Select Units
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COMMUNITY AMENITIES
Clubhouse with Business Center
Swimming Pool with Sun Deck
Fitness Center
Playground
Picnic and Grilling Area
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Property Summary
Property Name
Address
City, State, Zip
County
Units
Built
Buildings
Stories
Density
Site Acreage
Total Rentable SF
Average Unit SF
Exterior
Roof
The Reserve
5650 Hillandale Drive
Lithonia, GA 30058
DeKalb
252
1988
19
Two-Story
12 Units Per Acre
21
235,114
933
Siding
Pitched - Composition Shingle
THE ASSET
Monthly mortgage payment ($2,150) for median home value in area outpace The Reserve’s market rent ($1,069)
Discount to Homeownership
Spacious, predominately two- and three-bedroom units averaging 992 SF
Desirable Unit Mix
Nearly $2.1M ($8,358/unit) invested in asset preservation and curb appeal
Substantial Capital Infusion
Opportunity for future owner to reap benefits of stabilizing occupancy, rental upside, and remaining value-add
Path to Upside
Asset is expected to trade below current market for recently sold assets and well below replacement cost for new garden-style product
Offered Below Market and Replacement Cost
INVESTMENT HIGHLIGHTS
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5650 HILLANDALE DRIVE | LITHONIA | GA | 30058
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Best and FInal Offers Due January 18, 2024
Best and FInal Offers Due January 18, 2024