Tuesday, November 17, 2015

Multi Housing Advisors Brokers $7.3 Million Sale of Apartment Community in Athens, GA

Georgia Green Apartments, Athens, GA
Robert Stickel
ATLANTA, GA (Nov. 17, 2015) — Multi Housing Advisors (MHA) has arranged the $7.3 million sale of Georgia Green, a 164-unit apartment community located in Athens, Georgia.

Robert Stickel, who leads MHA’s central to coastal Georgia deal team, represented the seller, Hamilton Point Investments, in the transaction. Southeast Multifamily Partners I, LLC purchased the property.

 “Georgia Green provided new ownership a recently stabilized asset with significant renovations and improving performance trends,” Stickel said. 

“As the Athens market occupancy continues to increase with limited new development of conventional units, value-add properties should continue to experience increased rental rates and returns.”

Georgia Green recently received a comprehensive renovation, including full upgrades to all unit interiors, building exteriors, and amenity areas.   The property is located in Athens, G.A. which has demonstrated tightening market fundamentals as the average vacancy rate in the market has decreased 160 basis points over the last year.

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

Deborah Rogers
Multi Housing Advisors

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