DORAVILLE, GA-The 306-unit Morningside Apartments complex was sold to Atlanta-based investor Lin Properties for an undisclosed price.
Houston-based Holliday Fenoglio Fowler LP directors David Fournier and Jason Nettles marketed the property on behalf of West Palm Beach-based Ocwen Financial Corp. as asset manager for Fannie Mae. When reached for comment, Fournier said he could provide no further details regarding the sale.
The complex has one-, two- and three-bedroom units averaging 851 sf in size and was 90% occupied at the time of the sale. Unit amenities include private patios and balconies, vaulted ceilings and wood burning fireplaces. Complex amenities include three swimming pools, two lighted tennis courts, fitness center, volleyball court and a clubhouse. The property was built in 1984 and renovated in 1998. Situated on 24 acres off Pleasantdale Road, it has excellent access to Interstates 285 and 85.
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