Lithia Springs is home to the Southeastern headquarters of the American Red Cross and major recent investments by Google and Keurig. The multifamily asset is just north of Interstate 20 and next to prolific Thornton Road and Fulton Industrial Boulevard industrial and warehouse districts.

“Waterford Point was the perfect intersection of asset and location,” Swenson says. “A high-growth economic market with substantial rent growth combined with Douglas County's effective ban on multifamily housing development will provide very attractive returns to the new owner.”

Lithia Springs is seeing more commercial real estate action lately. A Kroger-anchored retail center just traded in what marked a rare opportunity. And a national developer drove a 19% ROI in Lithia Springs despite huge barriers.

ATLANTA—Waterford Point, a 344-unit apartment community located in Lithia Springs, GA, has traded hands.

Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the sale of in metro Atlanta. CushWake's Nathan Swenson represented the seller, PointOne Holdings, in a joint venture with Biscayne Atlantic, in the transaction. Elite Street Capital acquired the property.

“Waterford Point had an impressive trend of rent growth, both organically and through value-add implementation, which the market responded to very favorably,” Swenson tells GlobeSt.com. “Additionally, being located in Douglas County, which has an effective ban on multifamily development, only added to the asset's desirability.”

Waterford Point was built in 1989. The multifamily asset sits in the rapidly growing west metro Atlanta suburb of Lithia Springs.

Lithia Springs is home to the Southeastern headquarters of the American Red Cross and major recent investments by Google and Keurig. The multifamily asset is just north of Interstate 20 and next to prolific Thornton Road and Fulton Industrial Boulevard industrial and warehouse districts.

“Waterford Point was the perfect intersection of asset and location,” Swenson says. “A high-growth economic market with substantial rent growth combined with Douglas County's effective ban on multifamily housing development will provide very attractive returns to the new owner.”

Lithia Springs is seeing more commercial real estate action lately. A Kroger-anchored retail center just traded in what marked a rare opportunity. And a national developer drove a 19% ROI in Lithia Springs despite huge barriers.