ATLANTA—Investors are still looking for value-added deals andFPA Multifamily just found one. Lakeside Village,an apartment community in Atlanta, just sold for$23 million.

CBRE's Shea Campbell andKevin Geiger of the firm's Southeast MultifamilyGroup, represented the seller, Arenda CapitalManagement, a private investment firm based on LosAngeles. FPA recently expanded to include an Atlantaoffice and worked quickly to find a strongdeal.

"Investors are capitalizing on the strong fundamentalssupporting the Atlanta apartment market,”Campbell, first vice president at CBRE Multifamily, “Multifamily sales volume in Atlantahas spiked in the past three quarters, up 53.6% over the sameperiod a year earlier. Atlanta achieved the highest overall returnamong the major apartment markets, and with thetrend toward residential urbanization, the desire to rent hasintensified keeping the investment opportunities healthy."

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