ELLENWOOD, GA—A partnership affiliated with Montreal-basedRosdev Group and Tampa, FL-based Blue RockPartners, LLC reports it has closed on the $9.8-millionpurchase of Oak at Ellenwood apartments in thisAtlanta suburb in an all cash deal.

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The purchase by partnership affiliate Blueros Ellenwood PartnersLLC was announced by Blue Rock Partners managing partnerReuven Oded. The deal for the 240-unit communitycalculated out to $40,833 per unit. The property, located at 2445Rex Road in Ellenwood, was purchased from Atlanta-basedHammond Residential Group.

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“This acquisition reflects our confidence in the continuedstrengthening of the U.S. economy, in household demand growth, andspecifically in the promising prospects for the Atlanta MSAdemographics,” Blue Rock's Oded says. Blue Rock Partners owns andmanages more than 10,000 apartment units in Tampa, Orlando and FortMyers, FL, Atlanta, and Birmingham, AL., either solely or throughvarious partnerships.

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Blue Rock also reports that on Oct. 28, the Rosdev Group-BlueRock partnership (Blueros Group LLC) closed on the $16.7-millionpurchase of The Park at Coventry apartments inTampa from a Praedium-controlled group. The 320-unit apartmentcommunity is located at 13800 Bruce B. Downs Blvd. in Tampa.Financing for the transaction was arranged by Eastern UnionFunding and the lender was Arbor CommercialMortgages LLC.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.