Wednesday, December 31, 2014

MHA Brokers $21.15 Million Sale of Apartment Community in Macon, GA

Adrian on Riverside Apartments, 5243 Riverside Drive, Macon, GA
Robert Stickel
ATLANTA, GA (Dec. 31, 2014) — Multi Housing Advisors (MHA) has arranged the $21.15 million sale of Adrian on Riverside, a 224-unit apartment community located at 5243 Riverside Drive in Macon, Georgia.

Robert Stickel of MHA’s Atlanta office represented the seller, Adrian Park, LLC, which developed the community, in the transaction. PEM Real Estate Group was the buyer.

“Strong and steady economic growth throughout Georgia continues to drive demand for quality apartment communities, especially properties that are appealing to debt and equity capital sources while also providing compelling value-add opportunities,” Stickel said.

Adrian on Riverside was built in 2004 and 2009, and was 95 percent occupied at the time of the sale. 

Amenities include a putting green, theater with surround sound, playground, covered car wash center, fitness center, billiard room, and a pool with a large sundeck and picnic pavilion.

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast.

Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. 

The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.

MHA enjoys a total sales transaction volume that has surpassed $3.5 billion, representing more than 100,000 units and more than 600 individual transactions. 

MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.

For more information, visit

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)

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