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| Devon Place Apartments, Lithonia, GA |
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| Tyler Averitt |
ATLANTA, GA (Feb. 24, 2015) — Multi Housing Advisors (MHA)
has arranged the $15.75 million sale of Devon Place, a 415-unit recently
renovated apartment community located in the metro Atlanta suburb of Lithonia.
Josh Goldfarb and Tyler Averitt of MHA’s
Atlanta office represented the seller, Varden Capital Properties, LLC (VPC), in
the transaction and were the sole brokers involved in the deal.
“With continued metro-wide job growth, all submarkets in the
greater Atlanta area are experiencing an increase in operating performance,”
Goldfarb said.
“Devon Place recently received renovation and upgrades,
furthering the rising bottom line. The new owner should continue to benefit
from both the area and property improvements.”
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.
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| Josh Goldfarb |
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 $3.8 billion, representing more than 100,000 units and more than 640
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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