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| Chitra Subbarayan |
Atlanta, GA –
Ackerman & Co. has brokered the sale of a 13.8-acre, 200-unit apartment
building complex, in St. Marys, Ga. for $10,000,000.
The Property, built in
1991, comprises 29 buildings, and is located near Georgia Highway 40, less than
3 miles from the naval submarine base.
“The buyer was
seeking stabilized assets to add to their existing portfolio.
"At 94% occupancy
and located in close proximity to employment, retail and business centers, Harbor
Pines Apartments was a compelling buy,” said Chitra Subbarayan, vice
president of brokerage at Ackerman.
Chitra, along with Andy
Sutton represented the seller, Harbor Pines Partnership, Inc., in the
transaction. The property was purchased by a private investment group based in
New York.
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| Andy Sutton |
Headquartered in
Atlanta, Ackerman & Co. is a privately held, full-service commercial real
estate firm focused on providing quality investment, brokerage, management and
development services in the Southeast. The company, founded in 1967, retains an
expert team of more than 100 real estate professionals.
To date, Ackerman & Co.
has developed and acquired more than 30 million square feet of office,
medical, retail and mixed-use space, has nearly 4 million square feet under
management, and maintains an investment portfolio valued at $750 million.
For a complete
copy of the company’s news release, please contact:
Fara Wilson
Vice President, Marketing
P: 770.913.3904 C:
678.358.2060 F: 770.913.3965
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