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Two Suburban Apartment Transactions Total $45M

ATLANTA-Cushman & Wakefield deals Madison at River Sound and Covington Glen properties.

By Carl Cronan | Updated on October 21, 2009

ATLANTA-Cushman & Wakefield’s local office recently completed the sale of two suburban apartment properties. Madison at River Sound, a 586-unit complex in Lawrenceville, sold for $39 million, while the 254-unit Covington Glen in Decatur sold for only $4.5 million.

Madison at River Sound, at 980 Walther Blvd., was purchased by B&M Management from an unidentified seller. The high-quality apartment community, currently 93% occupied, has the potential for favorable returns from existing cash flow, says David Gutting, a C&W executive director.

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