ATLANTA—Multi Housing Advisors' office here has arranged the separate sales of the 294-unit Laurel Ridge apartment community in Athens, GA and the 132-unit Savannah Oaks development in North Augusta, SC.
The deals were announced by MHA Atlanta office Managing Director Robert Stickel, who represented Juniper Investment Group in the sale of Laurel Ridge to New York City-based Benchmark Group and QR Capital in the sale of Savannah Oaks to Brandenburg Properties of California.
Laurel Ridge, which was constructed in 1968, is located at 195 Epps Bridge Road. Amenities include a clubhouse, clothes care center, fitness center and swimming pool. Built in 1976, Savannah Oaks is located at 1402 Groves Blvd. Amenities there include a swimming pool, laundry facilities and a playground.
“These sales represent the recent trends of private capital owner-operators purchasing value-add opportunities in the multifamily sector,” Stickel says. No other financial information on either transaction was released.
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