ATLANTA, GA (Nov. 4, 2015)
— Multi Housing Advisors (MHA) has arranged, in separate transactions, the
sales of four apartment communities located in Norcross, Georgia for a total of
$71.7 million.
 |
| Josh Goldfarb |
Josh Goldfarb
and Tyler Averitt of MHA’s Atlanta
office represented the Boston-based seller, Realty Financial Partners, in the
transactions. MHA has now brokered the sale of 51 properties in the metro
Atlanta area over the past twelve months.
“Employment and population
gains continue to fuel economic growth. Rent increases, due to both heightened
demand and the desire for better living, have been widespread” Goldfarb said.
“All four of these Norcross-based properties should benefit from repositioning,
as limited new apartment supply has been delivered in Gwinnett County.”
Details of the deals are
below:
· King Rook Capital, with corporate
offices in New York, purchased Highland
Reserve for $23.3 million. The 416-unit property was built in 1987.
· Emma Capital Properties purchased Highland Valley for $18.75 million. The
300-unit property was built in 1985 and was subsequently renamed Princeton
Heights Apartments.
· Atlanta-based Audubon Communities
purchased Highland Corners for $16.2
million. The 252-unit property was built in 1979.
· Atlanta-based Marquis Investments
purchased Highland Lakes for $13.4
million. The 240-unit property was built in 1985.
For a complete copy of the company’s news release,
please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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