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| Adrian on Riverside Apartments, 5243 Riverside Drive, Macon, GA |
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| 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 www.usmha.com.
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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