ELLENWOOD, GA—A partnership affiliated with Montreal-based Rosdev Group and Tampa, FL-based Blue Rock Partners, LLC reports it has closed on the $9.8-million purchase of Oak at Ellenwood apartments in this Atlanta suburb in an all cash deal.

The purchase by partnership affiliate Blueros Ellenwood Partners LLC was announced by Blue Rock Partners managing partner Reuven Oded. The deal for the 240-unit community calculated out to $40,833 per unit. The property, located at 2445 Rex Road in Ellenwood, was purchased from Atlanta-based Hammond Residential Group.

“This acquisition reflects our confidence in the continued strengthening of the U.S. economy, in household demand growth, and specifically in the promising prospects for the Atlanta MSA demographics,” Blue Rock's Oded says. Blue Rock Partners owns and manages more than 10,000 apartment units in Tampa, Orlando and Fort Myers, FL, Atlanta, and Birmingham, AL., either solely or through various partnerships.

Blue Rock also reports that on Oct. 28, the Rosdev Group-Blue Rock partnership (Blueros Group LLC) closed on the $16.7-million purchase of The Park at Coventry apartments in Tampa from a Praedium-controlled group. The 320-unit apartment community is located at 13800 Bruce B. Downs Blvd. in Tampa. Financing for the transaction was arranged by Eastern Union Funding and the lender was Arbor Commercial Mortgages LLC.