Greystone Brown Real Estate Advisors Closes $39 Million
NEW YORK, Feb. 6 / PRNewswire / – Greystone Brown Real Estate Advisors announced that it has completed the sale of an apartment building in Marietta, Georgia for $ 39,000,000. Greystone Brown represented the seller Aerial Development Group & Viking Capital on the deal. The Greystone Brown team that led the transaction consisted of Chandler Brown, Taylor Brown, Barden Brown and Walter Miller.
Located in an admired location in Cobb County, The hills at East Cobb is located at Terrell Mill Road 1716. The apartment building consists of 266 units. Located just 1.5 miles from Braves Stadium, the property offers residents a variety of amenities, including a fitness center. Swimming pool; Splash guard; Bocce court; luxurious outdoor kitchen; Picnic area with grill; Clubhouse; and dog park.
“We are very pleased to have helped Aerial / Viking with another sale and we were delighted to be part of their portfolio success,” said Chandler Brown, director at Greystone Brown Real Estate Advisors. “It’s really a seller’s market today, and our regional expertise shows that the Atlanta MSA is an outperformer for potential investors. With Cobb County’s high entry barrier, coupled with strong metrics for migration and job growth, this transaction was a win-win for both sides. “
The buyer, Spaxel, LLC took on an existing Freddie Mac loan for $ 27,000,000 and plans a major capital improvement plan to reposition the asset to meet the growing demands of micro and macro market trends.
Via Greystone Brown real estate advisor
Greystone Brown Real Estate Advisors is a commercial investment brokerage firm specializing in the sale of apartment buildings and retail properties across the Southeast. The company is one of the largest and oldest private real estate agencies in the region. Greystone Brown real estate professionals strive to understand goals of maximizing income and profits while meeting critical time frames. More information is available at www.brownra.com.
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