ATLANTA-The market for Atlanta multifamily housing is taking a sharp turn upward. CB Richard Ellis just brokered the sale of two multifamily properties in Atlanta suburbs.
Greens at Windy Hill Apartments in Smyrna sold for $4.8 million. And Casa Los Pinos Apartments in Norcross traded for $8.9 million. Atlanta-based Cortland Partners snapped up both properties. Brad Simmel and Shea Campbell of CBRE's Atlanta Multi-Housing Group brokered the transactions on behalf of an undisclosed national lender.
Simmel is witnessing strong interest in quality, well-located affordable apartment communities. Over the course of the year, Campbell reports that more lenders able to provide debt for Atlanta area properties. Still, challenges remain.
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