June 10, 2019 Comments Off on StoneBridge Acquires Atlanta Apartment Community for $33M Views: 177 Atlanta, Atlanta News, Top Atlanta

StoneBridge Acquires Atlanta Apartment Community for $33M

Washington D.C.-based StoneBridge Investments has acquired River Vista, a 196-unit upscale apartment community in Sandy Springs. The sales prices was $33.4 million.

Located at 9200 Roberts Dr., the 17-acre property was built in 1996 and is nearby the Chattahoochee River. Amenities include an outdoor swimming pool, clubhouse, outdoor kitchen with grills and TV, playground and fitness center. StoneBridge plans to expand the ongoing interior modernization program that includes kitchen and bath upgrades, new two-inch blinds, installing full-size ensuite washers and dryers and creating fenced backyards for select ground-level apartments.

David Gutting and Derrick Bloom of JLL represented the seller, an affiliate of The Milestone Group, in the transaction. Elliot Throne and Ware Shipman of HFF secured a seven-year, fixed-rate acquisition loan with five years of interest-only payments for StoneBridge through Freddie Mac’s Green Advantage program.

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