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| Georgia Green Apartments, Athens, GA |
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| Robert Stickel |
ATLANTA, GA (Nov. 17,
2015) — Multi Housing Advisors (MHA) has arranged the $7.3 million sale of Georgia Green, a 164-unit apartment
community located in Athens, Georgia.
Robert Stickel,
who leads MHA’s central to coastal Georgia deal team, represented the seller,
Hamilton Point Investments, in the transaction. Southeast Multifamily Partners
I, LLC purchased the property.
“Georgia Green provided new ownership a
recently stabilized asset with significant renovations and improving
performance trends,” Stickel said.
“As the Athens market occupancy continues to
increase with limited new development of conventional units, value-add
properties should continue to experience increased rental rates and returns.”
Georgia Green recently
received a comprehensive renovation, including full upgrades to all unit
interiors, building exteriors, and amenity areas. The property is located in Athens, G.A.
which has demonstrated tightening market fundamentals as the average vacancy
rate in the market has decreased 160 basis points over the last year.
For a complete copy of the company’s news release,
please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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