ATLANTA—Ashley Vista, a 312-unit multifamily community in the Atlanta, GA suburb of Lithonia, has traded hands. The sale price: $31.11 million.
Robbins Electra acquired the asset from Bridge Properties. Robbins Electra will execute a multimillion-dollar property renovation and rebrand the community Belle Vista, upgrading apartment interiors and enhancing the community's amenities.
The deal marks Robbins' second multifamily acquisition this year in Atlanta. Earlier this month the company acquired Marbella Place in Stockbridge. The company has three more Atlanta multifamily communities under contract to close in coming months.
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