Visit Doc Center
421 MEADOWOOD DRIVE | LITHONIA | GA | 30038
PHOTO GALLERY
RICHARD LEVINE
Senior Managing Director
404.654.2590
Richard.Levine@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
John.Bray@berkadia.com
MORTGAGE BANKING
JUDY MACMANUS
Senior Director
404.654.2074
Judy.MacManus@berkadia.com
ANDREW MAYS
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
MATT WHITE
Senior Director
404.445.1070
Matt.White@berkadia.com
INVESTMENT SALES
CONTACT US
THE LOCATION
INVESTMENT HIGHLIGHTS
IAN SHAW
Associate Director
404.654.2347
Ian.Shaw@berkadia.com
PAUL VETTER
Senior Managing Director
404.445.1068
Paul.Vetter@berkadia.com
Photo Gallery
The Asset
The Opportunity
Doc Center
Privacy
Contact
Terms of Use
COMMUNITY AMENITIES
• Gated Controlled Access
• Clubhouse with Business Center
• Swimming Pool
• Fitness Center
• Yoga Studio
• Tennis Court
• Playground
• Picnic Area with Outdoor Grilling Stations
• Laundry Facility
APARTMENT FEATURES
• Newly Renovated Units*
• Fully Equipped Kitchen
• Faux-Granite Countertops
• Wood-Style Flooring
• White Cabinetry
• Fireplace*
• Washer and Dryer Connections
• Private Patio or Balcony
* Select Units
THE ASSET
The Location
100% two- and three-bedroom floor plans averaging 1,249SF with TH availability
IDEAL UNIT MIX
Continued renovations drive $190+ premiums (219 remaining units = $502K revenue boost annually) and installation of washer and dryer appliances: $249K annual revenue when rented at $50/Month
VALUE-ADD UPSIDE
EGI growth of 30.6% year-over-year; nearly 60% reduction in bad debt since 2021
STOUT PERFORMANCE TREND
Property’s FMV frozen at $48MM through 2024
SUCCESSFUL TAX APPEAL IN 2022
Fixed-rate agency Loan: +75% LTV with 5 years IO through 2028
HIGHLY ATTRACTIVE ASSUMABLE LOAN
Property Summary
3
499
Mobile
73%
Number of Properties
Number of units
Markets
Property Name
Address
City, State, Zip
County
Units
Built
Buildings
Stories
Density
Site Acreage
Total Rentable SF
Average Unit SF
Exterior
Roof
Parking
The Quarry
421 Meadowood Drive
Lithonia, GA 30038
DeKalb
415
1970
32
Two-Story
13.34 Units Per Acre
31.10
518,410
1,249
Brick and HardiPlank Siding
Pitched - Composition Shingle
900 Spaces
APARTMENT FEATURES
• Newly Renovated Units*
• Fully Equipped Kitchen
• Faux-Granite Countertops
• Wood-Style Flooring
• White Cabinetry
• Fireplace*
• Washer and Dryer Connections
• Private Patio or Balcony
* Select Units
COMMUNITY AMENITIES
• Gated Controlled Access
• Clubhouse with Business Center
• Swimming Pool
• Fitness Center
• Yoga Studio
• Tennis Court
• Playground
• Picnic Area with Outdoor Grilling Stations
• Laundry Facility
Property Summary
3
499
Mobile
73%
Number of Properties
Number of units
Markets
Property Name
Address
City, State, Zip
County
Units
Built
Buildings
Stories
Density
Site Acreage
Total Rentable SF
Average Unit SF
Exterior
Roof
Parking
The Quarry
421 Meadowood Drive
Lithonia, GA 30038
DeKalb
415
1970
32
Two-Story
13.34 Units Per Acre
31.10
518,410
1,249
Brick and HardiPlank Siding
Pitched - Composition Shingle
900 Spaces
THE ASSET
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: https://www.berkadia.com/licensing/.
ATLANTA OFFICE
THREE ALLIANCE CENTER
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
713.974.T: 404.445.2600 | F: 404.445.1065
JOSH FINLEY
Managing Director
404.654.2594
Josh.Finley@berkadia.com
421 MEADOWOOD DRIVE | LITHONIA | GA | 30038
The Opportunity
Investment Highlights
Contact
Doc Center
Privacy
Terms of Use
West AERIAL
SOUTH EAST AERIAL
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: https://www.berkadia.com/licensing/.
The Opportunity
The Asset