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| The Oaks of Briarcliff Apartments, Buckhead district, Atlanta, GA |
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| Joshua Goldfarb |
ATLANTA, GA — Multi Housing Advisors (MHA) has brokered the
individual sales of three metro Atlanta apartment communities. Combined, the
transactions total $39.85 million and cover 734 units.
Josh Goldfarb and Tyler Averitt of MHA represented
the sellers and were the only brokers involved in the deals.
In one of the transactions, The RADCO Companies acquired
Defoors Ferry West, a 297-unit community in Atlanta’s West Midtown
neighborhood, for $16 million. Urban Partners LLC sold the 50-year-old complex.
In another deal, FC Oaks LLC, an affiliate of FortCap
Partners, purchased The Oaks of Briarcliff, a 227-unit, garden-style community
located in Atlanta near Emory University and the city’s Buckhead district, for
$14.8 million. The Oaks of Briarcliff/W.C., L.P. sold the property, which was
built in 1964.
Also, Greentree Real Estate Services LLC bought Huntington
Ridge, a 210-unit, garden-style community in Norcross, Ga., for more than $9.05
million. LMREC CDO II REO VII Inc. was the seller. Huntington Ridge was built
in 1973.
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| Tyler Averitt |
“Atlanta’s apartment market is firmly in the middle of its
recovery, and with continued rent growth and occupancy gains on the horizon,
the metro area is proving to be very attractive to investors,” said Goldfarb,
co-founder and co-managing partner of MHA. “We foresee a very brisk sales pace
in the city in 2014.”
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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