ATLANTA—A three-property multifamily portfolio totaling 920 units in South Suburban Atlanta has just traded hands. Financial terms of the deal were not disclosed.

CBRE's Kevin Geiger and Shea Campbell of the Southeast Multifamily Group represented the seller, Bridge Investment Group. Robbins Electra and Electra America acquired the multifamily assets. As the Atlanta metro continues to thrive with rapid job and population growth, multifamily communities with value-add potential will remain incredibly appealing to buyers.

“Atlanta is seeing continued rent growth due to its increasing population and subsequent job creation,” says Geiger, vice chairman of Institutional Properties for the Multifamily division of CBRE. “It is not unusual for the suburban parts of Atlanta to experience organic rent growth, which peeks investors' interest. Atlanta is one of the few markets nationwide that inks solid rent growth and occupancy growth at this late stage in the cycle, and as investors seek value-add opportunities, the three suburban properties in this portfolio provide the opportunity through renovations.”