Vista Realty Sells 604 Affordable Housing Units for $70M
The two apartment complexes, developed by Vista, are located in Atlanta, GA and Kennesaw, GA.
ATLANTA, GA–Vista Realty Partners has sold two apartment complexes totaling 604 units in Georgia to Fairfield Residential in a $70 million transaction.
The sale consisted of the 280-unit Longwood Vista Apartments in Atlanta and the 324-unit Lakeside Vista Apartments in Kennesaw.
Longwood Vista Apartments is situated in the Global Forum Development along Buford Highway, near the Central Perimeter and Buckhead employment centers, as well as the new mixed-use development, Assembly Yards. Lakeside Vista Apartments is located in the suburb’s Ellison Lakes Community.
Vista Realty developed both properties utilizing Low-Income Housing Tax Credits, nearly 15 years ago.
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The firm ensured the apartment communities would remain affordable in the sale to Fairfield Residential.
The transaction is part of Fairfield Residential’s push to expand in the affordable housing market. The firm currently owns more than 8,000 affordable housing units nationwide.
Vista Realty Partners is a real estate investment company, based in Atlanta. The firm, founded in 2000, specializes in owning and developing multifamily housing throughout the Southeast.