Strong Interest in Georgia's Secondary Multifamily Markets

MACON, GA—The 224-unit Mill Creek Run apartment community here has been sold, a sign according to a broker involved in the transaction of the strength of the multifamily sector in secondary markets in Georgia.

Mill Creek Run, located at 6687 Skipper Road, was sold to Hamilton Point Investments LLC. At the time of the sale, the development was 93% occupied. The community, built in 2005, features a fitness center, business center, swimming pool, and cabana with an outdoor kitchen and picnic area. No further terms of the transaction were released.

Robert Stickel, managing director at MHA, who represented the seller, Mill Creek Run LLC, in the transaction, says, “We are experiencing strong investor interest in multifamily properties in Georgia's secondary markets, and we expect that to continue. Apartment communities in cities like Macon offer consistent, reliable returns and often provide higher yields than communities in metro markets like Atlanta.”