ATLANTA—Waterford Point, a 344-unit apartment community located in Lithia Springs, GA, has traded hands.
Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the sale of in metro Atlanta. CushWake's Nathan Swenson represented the seller, PointOne Holdings, in a joint venture with Biscayne Atlantic, in the transaction. Elite Street Capital acquired the property.
“Waterford Point had an impressive trend of rent growth, both organically and through value-add implementation, which the market responded to very favorably,” Swenson tells GlobeSt.com. “Additionally, being located in Douglas County, which has an effective ban on multifamily development, only added to the asset's desirability.”
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