September 13, 2019
Alcott Capital has acquired Shamrock Gardens, a 344-unit multifamily community in Atlanta for $23.4 million. Built in 1967, the community consists of one-, two- and three-bedroom units. Amenities include a community center, computer room, two playgrounds, community garden and orchard. The property is located at 1988 Plaza Ln., nearby Hartsfield-Jackson International Airport.
Barden Brown, Cory Caroline Sams, Taylor Brown, Chandler Brown, and Bo Brown of Greystone Brown Real Estate Advisors represented the seller, Legacy Shamrock Community, in the transaction. Real estate lending, investment, and advisory company Greystone also provided a $19.3 million acquisition loan to Alcott Capital.
“This transaction realized many firsts for our team, including achieving the fastest contract closing on a LURA restricted deal, which mandates that many of the units will remain affordable to years to come,” said Barden Brown, senior managing director at Greystone Brown. “We would like to thank the Atlanta Housing Authority for their collaboration and support.”
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Tags: Apartments & Multifamily