ExchangePoint Sells Apt. Complex for $26M

ATLANTA- Beverly Hills-based ExchangePoint Properties LLC has completed the sale of Cameron Brook Apartments to 35 tenant-in-common investors for $26.2 million. The company retains a portion of ownership and will continue to manage the property, Rob Budman, partner and vice president of acquisitions for ExchangePoint, tells GlobeSt.com. The 440-unit apartment complex, located at 4659 Dawson Blvd., was acquired by ExchangePoint five months prior to the sale. Countrywide Commercial provided the debt financing for the loan.

“Atlanta is a strong market with an expanding economy and growing demographics, that combined offer us tremendous opportunities for the acquisition of multifamily value-added properties,” said Evan Farahnik, principal of ExchangePoint, in a release. “Cameron Brook provided investors with a unique opportunity to invest in an exceptional asset with strong upside potential.”