Marcus & Millichap Sells $4.9M Lender-Owned Multifamily Property in Atlanta

ATLANTA, GA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of The Gardens at Briarwood, (top right photo) formerly known as Highlands at Sutton Place, a 130-unit lender-owned multifamily property in Atlanta.

The sales price of $4,925,000 represents $37,885 per unit.

Andrew Mays (bottom left photo) , a vice president investments and a director of the firm’s National Multi Housing Group (NMHG) in Atlanta, and Paul Vetter, an associate vice president and also a director of the NMHG in Atlanta, represented the appointed receiver in the sale, JMG Realty.

Mays and Vetter also represented the buyer, a Connecticut-based private investor.

“We received 19 offers for the property in less than 30 days of marketing,” says Vetter. “We responded to the top eight offers and just three weeks from the best and final offer round we selected an all-cash buyer.”

Located at 3580 Buford Highway NE in Atlanta, the property offers easy access to Interstate 85 and the Peachtree Connector to Buckhead and downtown Atlanta. Both the Brookhaven and Lenox MARTA (Metropolitan Atlanta Rapid Transit Authority) train stations are within two miles of the complex.

The Gardens at Briarwood was built in 1967.

 The units are all-electric and are equipped with central heat and air. Unit amenities include full kitchens with separate dining areas, private patios for townhome units and screened-in balconies for the garden-style units. Community amenities include lush landscaping and two swimming pools with large deck areas.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716