Vista Realty Trades Georgia Multifamily for $49M
The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.
SANDY SPRINGS, GA—Atlanta-based Vista Realty Partners reports it has sold the 220-unit Northridge Vista Apartments complex here for $49 million to a New York-based ifirm.
The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation’s largest airport news and concessionaire. The seller, a joint venture between Vista Realty Partners and Lubert Adler Real Estate Funds, is led by Eduard de Guardiola, a leading multifamily developer based in Atlanta.
Located in an affluent Atlanta suburb, Northridge Vista Apartments is less than 10 minutes from the newly established US headquarters of Mercedes Benz and is near all of Atlanta’s major employment centers and minutes from the Perimeter and Buckhead sub-markets.
The seller reports that the property’s “stellar” performance, combined with a very desirable location and luxury amenities at the property, created an ideal opportunity for the purchaser to expand its holdings in the supply-constrained Atlanta market.
Vista Realty Partners, which specializes in the ownership and development of multi-family housing throughout the Southeast, has developed in excess of 14,000 multifamily units with a value in excess of $1.5 billion since its founding in 2000.