ATLANTA—A two-property portfolio totaling 490 multifamily units in South Suburban Atlanta has traded hands. The sale price: $47 million.
CBRE's Shea Campbell, Kevin Geiger and Ashish Cholia of the Southeast Multifamily Group represented the seller, TIC Properties Management. Richard Jordan and Matt Forgione of the Debt and Structured Finance team provided the loan.
Carrington Ridge and The Retreat at Eagles Landing are located at 900 Rock Quarry Road in Stockbridge, GA. As the multifamily buildings are next door to each other, the portfolio will allow the buyer, Mesa Capital Partners, to provide multifamily options in a supply-constrained market while operating an efficient business plan.
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