ATLANTA—Madison at River Sound, a 586-unit multifamily community in the Atlanta suburb of Lawrenceville, GA, just sold for $58.3 million. B&M Management and Madison International Realty sold the multifamily asset to Investors Management Group.

Shea Campbell and Kevin Geiger of CBRE's Southeast Multifamily Group represented the sellers. The multifamily property has frontage along Highway 316 and is located within walking distance of Georgia Gwinnett College, the fastest growing four-year public college in the state.

“The market in and around Atlanta is in the best shape it has been in years,” Campbell tells GlobeSt.com. “When you look at the level of activity in 2010, where there was ultimately no activity in Atlanta on the multifamily front, compared to 2014 with over $4.5 billion of overall activity, it's apparent that the state of the market is beyond stable and on an incline.”