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, tellsGlobeSt.com. “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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