Cortland Makes Back-to-Back Atlanta Multifamily Dispositions

ATLANTA—Cortland Partners cashed out of two multifamily communities in Atlanta: the Woodridge and Clifton Ridge Townhomes. The transactions mark an end to its value creation cycle on two of the 29 properties it acquired in the past 27 months.

Cortland purchased the two multifamily communities for $3.3 million. The combined sales equaled $11.9 million, producing an average 2.5 multiple on the equity invested in the transactions in less than two years. Cortland invested in significant renovation on both properties to address physical plant issues manifesting in operational distress.