(Read more on the multifamily market.)
STOCKBRIDGE, GA-St. Germaine, WI-based Eliason 1031 PropertiesInc. has acquired the 400-unit Waterford Place at Mount Zion at3196 Mount Zion Rd. for $33.25 million, or $83,125 per unit.Denver-based Simpson Housing Group sold the property.
Constructed in two phases in 1996 and 2000, the complex is 95%occupied and features one-, two- and three-bedroom units. Rentsrange from $700 to $970. Among amenities are two swimming pools,two car care centers and detached garages. The property is located20 miles south of Downtown Atlanta in the South Clayton/HenryCounty submarket. It is located in close proximity to Interstate 75and Interstate 675 and is seven miles south of theHartsfield-Jackson Atlanta International Airport. It is alsolocated minutes away from the Southlake Mall.
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