August 21, 2019
Bluedog Capital Partners has sold two apartment communities in south Atlanta for a total of $73.8 million. Mike Kemether, Travis Presnell, and Alex Brown of Cushman & Wakefield represented the seller in the transactions.
The Radco Companies acquired Stonegate at Eagle’s Landing, a 167-unit apartment community in Stockbridge for $25.1 million. Rockworth Acquisitions acquired Mandalay Villas, a 300-unit apartment community in McDonough for $48.75 million.
“Though Mandalay Villas and Stonegate at Eagle’s Landing are both extremely well-located deals on the south side of Atlanta, this is where the similarities end,” said Kemether. “Mandalay Villas is an incredible big house product at a great basis with upside. Stonegate provides higher-than-market day-one yield for its new owner, with the ability to push revenue further in coming years. I am excited to see where each owner takes these deals over the next couple of years.”
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Tags: Apartments & Multifamily